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Saudi Arabia: Foreign Investors Continue to Buy Saudi Stock

Saudi Market Stock Exchange (Tadawul)
Saudi Market Stock Exchange (Tadawul)
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Saudi Arabia: Foreign Investors Continue to Buy Saudi Stock

Saudi Market Stock Exchange (Tadawul)
Saudi Market Stock Exchange (Tadawul)

Foreign investors continue to buy into the Saudi stock market, demonstrating the vitality of the country's financial market and its investment attractiveness.

In this regard, the Saudi Stock Exchange (Tadawul) announced that the net purchases of foreign investors through qualified foreign investors during last week reached about $293.3 million, while net purchases of Saudi companies amounted to $94 million.

The increase in foreign direct investment flows to the Saudi stock market follows important steps related to the listing of the financial market in several leading global indices, most notably MSCI World Index and FTSE Russell Index.

The Saudi stock market is maintaining its stable performance as the market is witnessing more stable trading, especially as companies are expected to achieve positive growth in the financial results for this year’s second quarter.

Saudi companies listed in the local market will begin announcing their financial results for Q2, with 6 companies listed announcing so far. The results showed that 3 companies achieved positive growth in profits during the first half of this year.

Saudi companies succeeded in achieving a net profit of $ 6.08 billion in Q1, according to released figures, and the companies are expected to succeed during Q2 to achieve new positive results thus enhancing their investment attractiveness.

In a related context, Saudi Arabia’s Tadawul All-Share Index (TASI) fell 0.4 percent, or 35 points, on Sunday, to close at 8,811 points. The total turnover reached $480 million, as the advance-decline ratio stood at 64-109.

Southern Province Cement was the top gainer, rising 3.9 percent and Arabian Cement and Yanbu Cement was up nearly 3 percent.

Financial experts and institutions monitor investment opportunities in the Saudi stock market while closely keeping an eye on the financial results announced by the companies listed in the local market. Many investment decisions are based on these results.

According to the results of Q1, 86 listed Saudi companies succeeded in achieving positive changes in their financial results compared to the same period of 2018.

It is worth noting that foreign strategic investors have become more likely to own in Saudi companies listed on the capital market.

Capital Market Authority (CMA) recently confirmed that strategic investors can acquire shares in listed companies according to a package of commitments.

The Authority excluded foreign strategic investors from the requirement of not owning more than 49 percent of listed companies in the local market, demonstrating the vitality of the country's financial market.

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Arab World

Israeli Army Reaches Outskirts of Litani River in Southern Lebanon

An Israeli tank loaded onto a truck being transported to the border with southern Lebanon in the Upper Galilee (EPA)
An Israeli tank loaded onto a truck being transported to the border with southern Lebanon in the Upper Galilee (EPA)
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Israeli Army Reaches Outskirts of Litani River in Southern Lebanon

An Israeli tank loaded onto a truck being transported to the border with southern Lebanon in the Upper Galilee (EPA)
An Israeli tank loaded onto a truck being transported to the border with southern Lebanon in the Upper Galilee (EPA)

Israeli forces have launched their largest ground incursion into southern Lebanon since the conflict began, reaching the outskirts of the Litani River near Deirmimas.

They entered the town’s edges in an effort to separate Nabatieh from Marjayoun and prepare for an attack on the town of Taybeh from the west and north.

This move also aimed to neutralize Taybeh hill, which overlooks the Khiam plain, where Israel plans to extend its operations and capture the city of Khiam.

Lebanese media reported that Israel set up a checkpoint at the Deirmimas junction, cutting off Marjayoun from Nabatieh.

They also blocked the western entrance to Deirmimas near a fuel station using earth mounds, with Israeli military vehicles stationed there. Reports also said Israeli forces prevented UNIFIL and the Lebanese army from passing toward Marjayoun.

Lebanese sources following the battle in the south reported that Israeli forces advanced five kilometers west from the town of Kfar Kila, moving through olive groves. This advance took advantage of the absence of Hezbollah fighters in Christian areas like Qlayaa, Bir al-Muluk, and Deirmimas.

The sources told Asharq Al-Awsat that this allowed Israeli forces to reach the outskirts of the Litani River for the first time since 2006, cutting off Nabatieh from Marjayoun. Israeli artillery had previously targeted this route several times, and drones had carried out strikes there.

Israel supported its ground advance with heavy artillery fire. Lebanese security sources said Israeli artillery targeted hills overlooking Deirmimas throughout Thursday night into Friday, hitting locations like Beaufort Castle, Arnoun, Yihmour, Wadi Zawtar, and Deir Siryan.

This fire typically provides cover for infantry advances. The sources also confirmed that Israeli ground movements were backed by airstrikes and drones for added security.

They speculated the advance followed a route from Kfar Kila through Tall al-Nahas and Bir al-Muluk toward Deirmimas, which is almost empty of residents and has no Hezbollah presence.

Hezbollah fired rockets at Israeli forces in the area, with three statements confirming the targeting of Israeli positions and vehicles near Deirmimas.

Media reports mentioned multiple rocket strikes on Israeli targets in Khiam and near Tall al-Nahas, as well as a guided missile attack on Israeli movements near oil groves close to the Marqos station at Deirmimas’ edge.

A photo shared by Lebanese media showed an Israeli tank behind an exposed hill east of Qlayaa, protected from the west and north. To the south, Israeli forces entered the town of Deirmimas, which overlooks the position.

Military expert Mustafa Asaad said the image, showing a bulldozer behind a tank at the Qlayaa-Marjayoun-Deirmimas junction, suggests that infantry units secured the area—either on foot or in fast vehicles—before entering Deirmimas.

The town’s mayor confirmed to local media that Israeli forces made a “small incursion” into Deirmimas, advancing through olive groves from Kfar Kila.

Hezbollah has stated it does not have military positions in Christian or Druze areas in southern Lebanon, as these communities oppose its presence. Sources close to Hezbollah say this is due to political reasons and security concerns.