Investors are seen to take their cue from a slew of much-awaited data due this week-the second-quarter local economic report, July inflation data, MSCI index
rebalancing and the local monetary policy meeting.
"In response to increasing demand from brokers and investors, we will introduce more regional MSCI index
products to enable a range of opportunities for our market participants," he added.
Already jittery over depressing economic conditions, global sell-off as well as anticipation of more structural reforms in talks with the International Monetary Fund, investors were further jolted by the street murmurs of the possibility of five heavyweight stocks being pushed out of MSCI index
"The Saudi market's entry into the global emerging market indices, including the MSCI Index
, helps in paving the way for ETFs and other products that allow investors to expand their dealings, with greater diversification and risk management, in parallel with enhancing overall market efficiency," he added.
"Our expectation is that the exchange will see at least a further $35bn of inflows as a result of the MSCI Index
Monica Malik, chief economist at Abu Dhabi Commercial Bank, said from an economic perspective, the inclusion to the MSCI index
and FTSE Russell EM index is critical for the Saudi reform and privatisation programme.
The Asia Pacific MSCI index
ex-Japan edged down 0.3 percent, with many regional markets shrugging off a strong close on Wall Street.
The changes to the MSCI Qatar index, which will become effective on the close of May 31 this year, will see all other Qatari constituent of MSCI index
in the same group as earlier.
LAHORE -- Despite political and external pressures, Pakistan has recorded a surge of 12 per cent on the MSCI index
and 6 per cent on the broader, less oil-centric, KSE 100 index, driven by a two-phase (December 8 and March 19) currency devaluation of 10 per cent, a report issued by Exotix Capital said here on Saturday.
The Saudi market inclusion announcement in the MSCI index
will have an tremendous impact on the regional equities, and we expect that announcement to be positive," Tariq Bin Hendi, acting chief investment officer at Emirates NBD, told journalists at a briefing.
The closely-watched MSCI index
of Asian shares outside Japan climbed 0.3 percent to hit an all-time high.
The MSCI Index
, a securities index compiled by Morgan Stanley Capital International ("MSCI"), is the most widely used reference index of capital market performance for investors in many countries and regions.