Foreigners Selling Saudi Stocks Slows Down to $624 Million, Following Khashoggi Murder

Published October 30th, 2018 - 08:23 GMT
Foreigners investors sold a net SAR 2.34 billion ($624 million) in the Saudi stock market in the week ending 25 October. (Shutterstock)
Foreigners investors sold a net SAR 2.34 billion ($624 million) in the Saudi stock market in the week ending 25 October. (Shutterstock)

Foreigners investors sold a net SAR 2.34 billion ($624 million) in the Saudi stock market in the week ending 25 October, but the Tadawul was supported by local institutions which bought SAR 8.06 billion riyals worth of stocks.

The foreign selling slowed from a record SAR 4.01 billion in Saudi stocks in the previous week following investors’ concern over the Kingdom's deteriorating relations with foreign powers following the killing of journalist Jamal Khashoggi.

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The Public Investment Fund (PIF) has been indirectly supporting local stocks, using local institutions to limit a market crash caused by the killing of Khashoggi, reported Reuters.


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