Saudi Shares Are the Most Expensive Since 2015
Saudi Arabian stocks are trading at the most expensive level since 2015 relative to emerging markets as foreign investors continue buying into a potential status upgrade by MSCI Inc. as oil surges. The Tadawul All Share Index is trading at 15 times estimated earnings per share for the coming year, versus 12 times for the MSCI Emerging Markets Index. As of April 19, foreign investors were net buyers of Saudi stocks for the 16th straight week.