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Trackinsight: Saudi's benchmark index climbs to 15-year high

01/18/2022 | 12:45pm EDT

TASI's climb to over a 15-year high is a continuation of last year's successful rally.

Saudi Arabia?s Tadawul All Share stock index (TASI) reached 12,260 on Tuesday, the highest since June 2006 as oil prices extended gains to an over 7-year high on worries about supply disruptions after Yemen's Iran-aligned Houthi group attacked the UAE, the third-biggest OPEC producer.

TASI's climb to over a 15-year high is a continuation of last year's successful rally ? which saw the index rise by +28.6% ? after a shy 2020 (+3.57%). Year-to-date, the TASI has gained 8.08%, lifted by shares of Saudi Tadawul Group Holdings (+34%), the Saudi British Bank (+26.5%), ACWA Power (+21.43%), and the Saudi Research & Marketing Group (+21.2%).

Consequently, ETFs that track Saudi Equities have trended up, including iShares MSCI Saudi Arabia ETF (+8.24%), iShares MSCI Saudi Arabia Capped UCITS ETF (+7.12%), Invesco MSCI Saudi Arabia UCITS ETF (+9.28%), and Franklin FTSE Saudi Arabia ETF (+8.0%).

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© 2022
Stocks mentioned in the article
ChangeLast1st jan.
EURO / DIRHAM (EUR/AED) 0.19% 3.8882 Delayed Quote.-7.21%
INVESCO LTD. 3.05% 18.57 Delayed Quote.-19.33%
LONDON BRENT OIL 0.63% 113.3 Delayed Quote.42.93%
ON SEMICONDUCTOR CORPORATION 0.70% 56.46 Delayed Quote.-16.87%
SILVER 0.38% 21.89 Delayed Quote.-6.70%
THE SAUDI BRITISH BANK -5.06% 40.35 End-of-day quote.22.27%
US DOLLAR / DIRHAM (USD/AED) 0.00% 3.6726 Delayed Quote.0.00%
WTI 0.58% 110.863 Delayed Quote.44.84%
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