Middle East Economic Survey

VOL. LII

No 12

23-Mar-2009

SAUDI ARABIA

Saudi Stock Market Could Gain 50% By End-2009, Says Jadwa

The Saudi stock market index Tadawul (TASI) has fallen significantly in the last six months, more than halving in value since the end of August to levels registered in late 2003 and more than 75% lower than its peak in February 2006, says a report by Jadwa Investment published on 14 March. However, Jadwas estimates for 2009 earnings suggest that the market is undervalued...