VOL. XLII

No. 32

9-August-1999

SAUDI ARABIA

Saudi Stocks Gain On Increased Liquidity, But GrowthOpportunity Remains Selective

The Saudi Arabian Monetary Agencys (SAMA) issue of SR4bn($1.06bn) in one to four-year bonds has injected some much needed liquidityinto the Saudi Stock Market (SSM), which has experienced a slump in the valueof shares traded since the beginning of the year. The bonds also pushed thegeneral index in the first week of August up 13% on the beginning of 1999. Thebonds were...