![[LIVE] Crypto News Today, September 29 – Bitcoin Price Briefly Surges Above $112K And Ethereum Reclaims $4K – Best Crypto To Buy Before “Uptober?](https://99bitcoins.com/99bitcoins.com/wp-content/uploads/crypto-icons/bitcoin.svg?#){kind=icon}
Saudi’s Tadawul posts biggest rally in 5 years amid foreign ownership buzz
The post Saudi’s Tadawul posts biggest rally in 5 years amid foreign ownership buzz appeared on BitcoinEthereumNews.com. Saudi’s main stock market just logged its biggest single-day rally in five years, jumping over 5% on Wednesday, after it was reported that the Capital Market Authority is considering lifting the foreign ownership cap on listed companies. Right now, the limit sits at 49%, but that could change before the end of 2025, according to Abdulaziz Abdulmohsen Bin Hassan, a CMA board member who said the proposal is already under review and may be implemented “before the end of the year.” That news alone was enough to add $123 billion in market value to the Tadawul All Share Index, which hadn’t seen a boost like this since 2020. The entire market responded. Every industry group traded up, and Saudi banks took the lead with 9% gains. This comes after months of underperformance. As of now, the index is still down 9.6% in 2025, lagging behind Dubai, which is up 13.8%, and Kuwait, up 20%, a trend largely tied to weaker oil prices. Foreign cap rumors drive massive stock inflows The potential rule change would open Saudi’s doors wider to foreign capital, especially from index-tracking funds like MSCI and FTSE. If foreign ownership hits 100%, UBS projects that the market could attract between $9.5 billion and $10 billion in passive inflows. Victor Martin, UBS’s head of portfolio trading in EMEA, said those inflows would hit fast once the rules change. Big names like Saudi Aramco, despite being a symbol of the country’s market power, haven’t been able to hold ground. Its stock is down around 10% year-to-date, part of the broader weakness in large caps. Mohammed Ali Yasin, the CEO at Ghaf Benefits (under Lunate), pointed out that “even with the 49% cap, foreigners never really cross 15% ownership in most large caps.” But he said expectations are shifting fast. The…
The post Saudi’s Tadawul posts biggest rally in 5 years amid foreign ownership buzz appeared on BitcoinEthereumNews.com.
Saudi’s main stock market just logged its biggest single-day rally in five years, jumping over 5% on Wednesday, after it was reported that the Capital Market Authority is considering lifting the foreign ownership cap on listed companies. Right now, the limit sits at 49%, but that could change before the end of 2025, according to Abdulaziz Abdulmohsen Bin Hassan, a CMA board member who said the proposal is already under review and may be implemented “before the end of the year.” That news alone was enough to add $123 billion in market value to the Tadawul All Share Index, which hadn’t seen a boost like this since 2020. The entire market responded. Every industry group traded up, and Saudi banks took the lead with 9% gains. This comes after months of underperformance. As of now, the index is still down 9.6% in 2025, lagging behind Dubai, which is up 13.8%, and Kuwait, up 20%, a trend largely tied to weaker oil prices. Foreign cap rumors drive massive stock inflows The potential rule change would open Saudi’s doors wider to foreign capital, especially from index-tracking funds like MSCI and FTSE. If foreign ownership hits 100%, UBS projects that the market could attract between $9.5 billion and $10 billion in passive inflows. Victor Martin, UBS’s head of portfolio trading in EMEA, said those inflows would hit fast once the rules change. Big names like Saudi Aramco, despite being a symbol of the country’s market power, haven’t been able to hold ground. Its stock is down around 10% year-to-date, part of the broader weakness in large caps. Mohammed Ali Yasin, the CEO at Ghaf Benefits (under Lunate), pointed out that “even with the 49% cap, foreigners never really cross 15% ownership in most large caps.” But he said expectations are shifting fast. The…
What's Your Reaction?
