TASI turnaround reflects stronger economic fundamentals: Jadwa

02/10/2018 Argaam

 

The 7 percent recovery by the Tadawul All Share Index (TASI) after dipping to 6-month-lows of 7,500 points in mid-September reflects stronger fundamentals of Saudi Arabian economy, Jadwa Investment noted in a report on Tuesday.

 

TASI improved marginally during September, rising by 1 percent month-on-month. This, however, disguises volatile trading during the month, the report added.

 

“In the first half of September, TASI slipped to a six month low. Since then, the index has risen by 7 percent, underlying the stronger fundamentals of the Kingdom vis-à-vis other EMs and reflecting improved sentiment linked to multi-year high oil prices,” it maintained, adding that Saudi equity market has been improving more so than most other regional indices.

 

“Traded volumes dipped to year-to-date lows during the month, but we expect these to recover as confidence likely further improves in the months ahead,” Jadwa Investment report added.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.