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Another USD 535bn of potential for EM stock markets!

Weekly investor research

20 April 2015

Following on from last year’s declaration of intent, the Saudi capital markets regulator has now formally announced that the USD 535bn Saudi Arabian stock market will open its doors to qualified foreign institutions in June. Saudi Arabia’s stock market is larger than the stock markets in Mexico, Indonesia, Malaysia and Russia. Technicals are strong and valuations are likely to re-rate higher over several stages, particularly when the market is included in the main benchmark indices. Fundamentally, the market offers attractive exposure to petro-chemicals and consumer stocks with the latter strongly supported by counter-cyclical policies recently announced by the government. We also see further developments in China, encouraging signs of greater Indian bond market access, Russian economic resilience and continued pressure on the Turkish lira.

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