Saudi stock market index closes lower at 10,681 points
Saudi Arabia’s main stock index fell by 67.69 points on Monday, closing at 10,681.82, with trading value reaching 3.6 billion riyals.
Financial analyst Assem Mansour has warned that the Saudi stock market may continue to experience selling pressure in the short term. According to Mansour, foreign investors have recorded net sales of approximately 1 billion riyals in the market. Speaking to Asharq Bloomberg, he stated that current tensions are primarily due to geopolitical disruptions, but the Kingdom possesses the ability to recover from these pressures.
Mansour pointed out that 28 stocks and real estate investment funds reached their lowest levels in 52 weeks last week, indicating that selling pressure is being driven by the outflow of foreign capital. He further explained that recent developments, such as the US Federal Reserve's decision to raise interest rates, are adding additional pressure on companies that are heavily indebted or rely on borrowing for growth.
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