World Economy

Foreigners Buy More Saudi Shares

Foreigners Buy More Saudi SharesForeigners Buy More Saudi Shares

Foreign investors bought 2.33% of all shares purchased on Saudi Arabia’s stock market in June, the first month since new rules allowed more overseas investment in the Arab world’s largest bourse, data showed, Reuters reported. Overseas investors, including residents and holders of swaps and qualified foreign investment licenses, purchased SR2.63 billion ($701.4 million) of shares. They sold SR3.57 billion of shares during the same period, or 3.16% of total shares sold. That compared with May when foreigners purchased SR1.35 billion of shares, accounting for 0.83% of total shares bought. The same month, they sold SR1.29 billion in shares, or 0.80% of total shares sold.