Saudi Arabian Stocks Surge as Foreign Investment Restrictions Lifted
Saudi Arabian equities experienced a significant rally on Wednesday following regulatory reforms that grant foreign investors direct access to the kingdom's stock market. The Tadawul All Share Index surged as much as 2.5%, marking its largest intraday gain since September, after the Saudi Capital Market Authority announced the removal of eligibility criteria for foreign investors.
The legislative changes, effective February 1, abolish the Qualified Foreign Investor regime and allow non-resident investors unrestricted entry into the main market. Foreign participation has already shown substantial growth, with ownership exceeding 590 billion riyals ($157.3 billion) by Q3-end, up from 498 billion riyals the previous year.