A third tranche of the FTSE Russell Emerging Market Index will kick in today after Saudi stocks were included already in two tranches in March and April.
The closing auction session— which lasts from 3:00 pm to 3:10 pm Riyadh local time— will be extended to 20 minutes instead of 10 minutes during today’s session.
The Saudi Stock Exchange (Tadawul) expects SAR 4.5 billion passive inflows after the completion of the third tranche.
On March 28, 2018, index provider FTSE Russell promoted Saudi Arabia to emerging secondary market status, starting from March 2019. The inclusion is expected to be fully completed by December 2019.
FTSE Russel said Tadawul’s inclusion in the emerging markets index will take place in five tranches over the course of 12 months.
Saudi Arabia is estimated to have an index weight of 0.25 percent in the FTSE Global Equity Index Series, and 2.7 percent in the FTSE Emerging All Cap Index.
Comments
{{DisplayName}}
{{ElapsedTime}}