Equities: Still Neutral On The TASI

Following an unimpressive weekly close of Saudi Arabia's Tadawul All Share Index (TASI), we maintain our neutral view of the index (see our online service, July 4, 'Equities: Poor Technicals Underpin Neutral-Bearish Outlook'). Although the TASI closed up slightly on the week, closing at 6,489 on July 20, we believe regional political concerns will continue to weigh on investor sentiment despite the positive effect that elevated oil prices and fiscal stimulus measures are having on the Saudi economy.

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