The main Saudi stock market index “TASI” closed the session on Wednesday, climbing 0.36% to gain 41.31 points and closing at 11447.62 points, a new peak in the index’s highest levels since January 17, 2008.
In an interview with Al Arabiya, Quancia Capital CEO Majed Kabbara described the TASI index as a price index, not full yields, while the Saudi market, whose index has hit its highest since 2008 When we calculate the dividend distribution, we find large aggregate profits.
Kabbara highlighted concerns at the level of the global economy, in notably the latest US growth numbers, employment numbers that fell short of expected, plus the challenges of Corona mutations, leading to big fears, all of which affect the performance of the financial markets.
He said gains that exceeded 30% in the Saudi stock market call for caution against profit taking.
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