Saudi Arabia's Tadawul market system breaks down due to technical issue

Dubai: Equities trading in Saudi Arabia has been halted due to a technical issue.

The market will be suspended temporarily "due to an unexpected technical issue out of the company's control," the Saudi Exchange said in a statement. The bourse is home to over 200 listed securities with a total market capitalization of about $2.6 trillion, including the world's biggest energy company Saudi Aramco.

The Tadawul All Share Index was up as much as 0.8% earlier Wednesday, before trading stopped.

The total value of shares purchased by foreign investors in Tadawul during May amounted to SAR 15.32 billion ($4.09 billion). Foreign investors represent 9.65 per cent of the total buying activity, and sales of SAR 13.55 billion, representing 8.54 per cent of total selling activity, the Saudi stock exchange said in its monthly report.

The total ownership of foreign investors stood at 2.73 per cent of total market capitalization as of 31 May 2021, representing an increase of 0.02 percent compared to April, the Saudi stock exchange noted in its Monthly Stock Market Ownership and Trading Activity report.

Post a Comment

Previous Post Next Post