Saudi stock market may face continued selling pressure, analyst says
Financial analyst Assem Mansour warns that selling pressure could persist in the Saudi market in the short term, with foreign investors recording net sales of around 1 billion riyals.
Key Takeaways
AIFinancial analyst Assem Mansour said that selling pressure may continue in the Saudi stock market in the short term, with foreign investors recording net sales of about 1 billion riyals (SAR).
In an interview with Asharq Bloomberg, he added that the current tensions are due to certain geopolitical disruptions, but the Kingdom is capable of recovering what has been lost as a result of these pressures.
Mansour noted that 28 stocks and real estate investment funds hit their lowest levels in 52 weeks last week, indicating selling pressure driven by the outflow of foreign capital.
He continued that recent developments, including the US Federal Reserve's decision to raise interest rates, are putting additional pressure on companies that are heavily indebted or rely on borrowing for growth.
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