International investors have staged a robust comeback in the Saudi Stock Exchange, injecting a noteworthy SR12.7 billion ($3.7 billion) in the first half of November. This resurgence follows a cautious October, during which foreign investors divested shares worth SR26 billion amid concerns related to market uncertainties linked to the Israel-Hamas conflict. Notable beneficiaries of this renewed interest include Etihad Atheeb Communications, witnessing a surge in foreign stake from 2.9 percent to 3.26 percent, and the insurance sector, with companies like Al Sagr Cooperative Insurance Co., Malath Cooperative Insurance Co., and United Cooperative Assurance Co. experiencing significant increases in foreign ownership.
Despite geopolitical tensions, the Tadawul All Share Index in Saudi Arabia continued its upward trajectory on November 15, closing at 11,022.89 with a 165.79-point increase. Simultaneously, the parallel market, Nomu, also experienced growth, rising by 332.52 points to 23,129.38. The positive trend in foreign investments signifies a notable rebound for the Saudi exchange, reflecting increased confidence among international investors in the Kingdom’s economic stability.