Saudi stocks achieve the best semi-annual performance in 16 years

Saudi stocks had the best first half in 16 years, after rising 26% in 2021 so far.

The rise supported oil prices and government projects, including the Shrek program launched by Crown Prince Mohammed bin Salman.

Local private sector companies have been able to access investments worth SR$5tn (US$1.3tn), which has supported the shares listed in the kingdom, according to Bloomberg.

In March, the Saudi Finance Minister, Muhammad Al-Jadaan, revealed that 24 Saudi companies pledged to invest SR$2tn by 2025, and SR$3tn by 2030.

The Tadawul All-Share Index is approaching a key level of 11,000 points.

For his part, Fam Partners Fund Manager Junaid Farouk indicated a great momentum in the market, and a significant rise in the morale of traders.

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