Tadawul has an upward road ahead of MSCI inclusion: Credit Suisse

Saudi Arabia's benchmark, Tadawul All Share Index (TASI) is witnessing an upright run, with the announcement of TASI inclusion into the MSCI Emerging markets, said Fahd Iqbal, head of Credit Suisse's Middle East research.

"Tadawul may possibly catch the 9,000 - 9,400 points mark, but this short-lived rally will only last for the first two weeks after the first phase, and the index then will likely reverse direction," Iqbal added.

Saudi Arabia’s benchmark is expected to peak as majority of passive flows will be witnessed following its inclusion in the MSCI emerging market index, Iqbal said, adding that the correction move in Tadawul is attributed to some geopolitical circumstances as investors shunned global risks.