Foreigners resume net buying of Saudi stocks

Foreign investors resumed net buying of Saudi Arabian equities last week by a small margin, after turning net sellers in the previous week, exchange data showed on Sunday. In the week through last Thursday, foreigners purchased about $21 million of stocks on a net basis. They bought $345 million and sold $325 million.
Qualified foreign institutions which invest directly were net buyers by a ratio of more than two to one, while direct investors using swaps were net sellers. Foreign portfolio funds have been flooding into Saudi Arabia before Riyadh's expected inclusion in global emerging market indexes next year. But in the week through April 26, foreigners were net sellers for the first time this year, to the tune of $48 million.