17 Hrs
Source:
الاقتصادية
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TASI Holds at 10500 Despite Drop
Saudi stocks declined, with the "TASI" index closing down by 0.5% at 10,542 points, while liquidity decreased by 30% to 2.9 billion riyals. Despite the decline, the yield on 10-year government sukuk rose to 6.11%, and the 3-month Saudi Interbank Offered Rate (SIBOR) increased to 5.43%, leading to a reduced attractiveness of equities compared to fixed-income instruments. Earnings expectations for companies remain limited, with an anticipated price-to-earnings ratio of around 14.4 times. This reflects market pressures driven by higher capital costs and rising bond yields, making the third-quarter earnings season even more critical in demonstrating the ability to support stock valuations through profit growth.
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