Riyadh – Mubasher: The Egyptian and Saudi stock markets are the most preferred for investors this year on the back of their good performance, compared to their peers in the Middle East and North Africa (MENA) region, Renaissance Capital’s CEO for MENA Ahmed Badr said.
The two Arab countries are currently implementing long-term economic reforms, Badr added during an interview with Enterprise.
In a related note, the CEO has said that he isn’t upbeat about the outlook for Emirati and Qatari stock markets after their liquidity has slashed.
He indicated that investors must look with “more attentively at” Saudi Arabia and Egypt.
Answering a question on why Saudi Arabia is the flavor of the year? Badr said that the investors are awaiting MSCI’s potential classification for the Saudi Stock Exchange (Tadawul) as an emerging market in June, Badr said.
“When the impact of the MSCI upgrade takes full effect in May 2019, it will very likely attract about $14 billion in passive flows that just follow the index,” he added.
