17 Hrs
Source:
الاقتصادية
TASI climbs past 10,500 points but funds lag behind
The Saudi stocks rose at their highest pace since the end of August, with the "TASI" index closing up by 1.1% at 10,506 points. Most of the gains were realized at the opening, amid limited trading activity valued at 2.3 billion riyals—a 52% decrease compared to the previous session. Despite the index's rise, trading liquidity did not match the strength of the price movement, indicating that the increase was driven by a decline in supply rather than new demand. The market continues to trade at a earnings multiple of around 15.5 times, with dividend yields lower than the long-term government bond yields. This suggests that current valuations are less attractive despite falling prices, but the high cost of capital limits the prospects for an improvement in economic value.
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