Investors are seeking access to Saudi Arabia as the government pursues a spending plan of more than $ 500 billion in an effort to boost the nonoil economy.
Saudi Basic Industries Corp. (SABIC) yesterday helped the Tadawul All-Share Index end slightly higher for a second day. SABIC climbed 0.8 percent.
Analysts say investors are reacting positively to the surprise change of the Capital Market Authority chairman announced last week.
Custodian of the Two Holy Mosques King Abdullah replaced Abdulrahman Al-Tuweijri with Mohammed bin Abdulmalik Al-Sheikh in a royal decree on Tuesday.
Read more: http://www.gulfbase.com/news/saudi-spending-boost-fueling-foreign-interest-in-tadawul-/228896
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