Tadawul rebounds in early trade as stocks open higher

14/05/2019 Argaam

 

Saudi Arabia’s Tadawul All Share Index (TASI) rebounded on Tuesday after eight days of declines, zooming over 100 points within 30 minutes of trading.

 

By 10:35 AM Riyadh time, the benchmark index was up 1.5 percent or 126 points at 8494, driven higher by majority of stocks.

 

The benchmark index lost nearly 680 points over the last week.

 

The upside reversal comes at a time when the global index provider MSCI Inc on Monday announced it would include the MSCI Saudi Arabia Indexes in Emerging Markets Indexes.

 

In neighboring UAE, Abu Dhabi's main equities index dropped 3.6 percent in early trade amid geopolitical tensions, while the Dubai Financial Market index rebounded on Tuesday from one of its biggest drops in years on Monday and rose 1.4 percent, according to Reuters.

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