Global equity index compiler S&P Dow Jones Indices will upgrade Saudi Arabia’s bourse to emerging market status from a stand-alone market next year, becoming the latest in a series of index firms to promote Riyadh, according to Reuters and a statement released on S&P Dow Jones’ website.
S&P Dow Jones will “add major Saudi stocks to its global indexes with a 50 percent weighting in March 2019” and raise their weightings to 100 percent in September.
S&P Dow Jones said the move was “in response to recent positive market structure reforms to support foreign investment and a strong consensus among members of the investment community.”
