* Majed Al-Khalidi from Riyadh
During the first nine months of this year, Saudi investors in the US and European shares traded through licensed companies from the Capital Market Authority (CMA) with about 31.56 billion riyals, the highest level in the last three years.
According to an analysis of the unit of reports in AlEqtisadiah, based on CMA data, the turnover of licensed persons during the first nine months of this year jumped 24.7 percent, compared to the same period last year 2017.
In the first nine months of 2018, buying and selling transactions rose by 6.24 billion riyals to 31.56 billion riyals, compared to SR 25.31 billion in the first nine months of 2017, while it accounted for about 20.65 billion riyals during the same period of 2016.
Thus, the average volume of trading during the current year may reach 3.5 billion riyals per month or about 175 million riyals during the trading session, compared to an average of 114.7 million per session during the same period of 2017.
The US market is about 95 per cent, at 30.1 billion riyals, while the European markets accounted for about 5 percent, equivalent to 1.49 billion riyals by the end of the first nine months of this year.
On a quarterly basis, the third quarter trading in the US and European markets were amounted to 7.22 billion riyals, recording a decline of about 15.4%, compared to the same period last year of 8.5 billion riyals.
The Saudis are trading in the US stock market on two types, the first is through companies licensed by the Capital Market Authority, while trading comes without a local broker, but there is no official data the size of those trades.
US and European markets accounted for 91.8 per cent of total foreign trade, which stood at 7.87 billion riyals during the third quarter of this year.
Trading in the Gulf countries comes in second place with SR 536 million, a 6.8% increase.
While the turnover in the Arab markets were about 75 million riyals, a problem of 1 per cent of the total trading in foreign markets.
Trading in Asian markets were amounted to about 2 million riyals, 0.1% of the total trading period.
The Saudi trade in the US and European stock market during the last year 2017 were about 32.22 billion riyals, compared to trading amounted to about 25 billion riyals in the year before 2016, with an increase of about 28.9 percent, equivalent to 7.22 billion riyals.
* Economic Reports Unit
