Saudi stocks wrapped up the best first half in 16 years, after rallying 26% in 2021 so far, Bloomberg reports.
According to Bloomberg, the jump so far in 2021 comes on the back of increasingly higher oil prices and government projects, including a program which aims to release $1.3 trillion of private sector investment.
The positive news on the stock market’s performance comes as the Kingdom looks to continue to build economic momentum after a slow year due to pandemic-related shutdowns.
Earlier this week the Saudi Authority for Industrial Cities and Technology Zones (MODON) launched an incentive package to encourage companies to list shares on the Tadawul.
Last month, the Tadawul experienced a technical trading glitch, which was met with a swift response which helped to reduce the impact on traders.
