Saudi Arabia's stock exchange, the Tadawul, has officially completed its full inclusion on the MSCI emerging markets index.
The second and final phase of its inclusion marks a continuation of efforts by the oil-rich kingdom to open up its financial market to international investors.
Saudi Arabia's stock market — the largest in the region, worth approximately $523 billion — will have a weight of 2.8% on the MSCI index. His comments come as investors eagerly await the listing of state-owned oil giant Saudi Aramco — which is likely to become the largest publicly-traded company in the world.
That's because market participants were worried about policy uncertainty, high valuations for Saudi-listed firms and reputational damage related to the"Nonetheless, it seems that investors have shrugged off such concerns this year," analysts at the IIF said.
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