Saudi news

Stock markets are following the data from “Davos”..Which path are they heading?

Financial market analyst Hamad Al-Olayan said that the markets are sensitive and anticipate all news, pointing to the significant increase in the Saudi stock market index since the beginning of the year.

Olayan said in an interview with “Al-Arabiya” that “the big rise came with the rebellion of some companies, and this does not mean a real rebellion … or real rises … and what happened was a pre-emption of some positive news, including inflation data.”

He pointed out that there are psychological factors affecting the movement of participants in the Saudi market.

He explained that the state of uncertainty has dissipated, but it is actually confirmed in the monthly data issued in the next two months, which will confirm the health of the markets and is it good for investment and a return once again to the upward path?

Olayan added that the markets are anticipating what is happening in Davos amid a large gathering of ministers of finance and industry and central bank governors around the world, pointing out that every statement and statement issued by Davos gives an indication of what will happen during the current year.

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