Investment funds net sell SAR 840M in TASI stocks last week

Tadawul trading screen

Saudi investment funds were net sellers of SAR 840 million worth of stocks in the Main Market (TASI) in the week ended Jan. 8, according to recent data issued by Tadawul.

GCC corporates were also net sellers of shares worth SAR 109 million.

Qualified foreign investors (QFIs) were net sellers of SAR 49.45 million worth of stocks.

QFIs accounted for about 38.76% and 39% of total purchase and sell trades last week, respectively.

Meanwhile, Saudi retail investors were net buyers of shares worth SAR 848.1 million.

Retail investors and high-net-worth investors were net buyers of shares worth SAR 671 million and SAR 191.5 million, respectively. Individual professional investors purchased shares worth around SAR 37.4 million.

Retail investors accounted for 26.61% of total purchases and 23.30% of overall sell trades during the week.

The Capital Market Authority (CMA) announced, on Jan. 7, the opening of the capital markets to all categories of foreign investors, effective Feb. 1.

Under the amendments, the concept of QFIs was eliminated in TASI, thereby allowing all categories of foreign investors to access the market without the need to meet qualification requirements.

In addition, the regulatory framework governing swap agreements, which are used as an option to enable non-resident foreign investors to obtain economic benefits only from listed securities, has been scrapped, together with the allowance of direct investment in TASI-listed shares.