“Many investors have excess cash that would otherwise have been spent on foreign trips. As inflation climbs and bond yields drop, people are flocking to the stock market in order to protect wealth.”
-Mazen Al-Sudairi, head of research at Al Rajhi Capital, commenting on the spike in the number of retail investors in the kingdom buying small and medium-cap stocks, driving average daily turnover to levels more than double those of a year ago. [Bloomberg]
