|Bid||29.27 x 1100|
|Ask||31.91 x 1200|
|Day's Range||29.42 - 29.57|
|52 Week Range||27.58 - 35.66|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||1.59%|
|Beta (3Y Monthly)||0.34|
|Expense Ratio (net)||0.74%|
Once one of this year's best-performing single-country ETFs, the iShares MSCI Saudi Arabia Capped ETF (KSA) is clinging to year-to-date gains as it resides about 16% below its 52-week high. The first Saudi Arabia listed in New York is now contending with another headwind: a downgrade to the Kingdom's credit rating by Fitch Ratings. Fitch lowered its rating on Saudi debt to A from A+ with a stable outlook.
Saudi shares had already fallen 15% since early May, as oil prices slipped and enthusiasm around the country’s joining MSCI’s global emerging markets index faded
On Saturday, a Yemeni militia group, the Houthi rebels, took credit for the attack, saying they flew 10 drones over assets controlled by the kingdom-controlled Saudi Aramco, a company that's preparing a massive initial public offering. The United States Brent Oil Fund (NYSE: BNO) fell 2% last week, before news of the drone attacks broke. Remembering that oil produced outside the U.S. is priced in Brent terms, geopolitical volatility, particularly the kind that disrupts oil supply, can provide a boost to Brent prices.
Saudi Arabia ETFs have attracted hefty new inflows after major indexing groups upgraded the kingdom's market to a developing country status. The iShares MSCI Saudi Arabia Capped ETF (KSA) has also brought in $612 million in net inflows so far this year, according to ETFdb data. KSA now holds $833 million in assets under management.
As Saudi Arabia is experiencing exponential economic growth, it can utilize its surplus capital by reinvesting in disruptive technologies like artificial intelligence (AI). The country has long been a beneficiary of its vast oil reserves, but AI could help realize areas where it can diversify its economic growth. "The United Arab Emirates (UAE) and Saudi Arabia have long-enjoyed abundant hydrocarbons reserves, granting them a prominent place in world markets and a strategic position in regional and global geopolitics," wrote The Economist's Economic Intelligence Unit.
The iShares MSCI Saudi Arabia ETF (KSA) rose 0.75 percent on Wednesday and with good reason--index provider MSCI plans to add more Saudi Arabia stocks to its indexes--namely the MSCI Emerging Markets Index and MSCI All Country World Index. This will help diversify the emerging markets index, which currently has a large tilt towards China and South Korea. After the inclusion of Saudi Arabia stocks, the total allocation towards the country will be at 2.6 percent.
Saudi Arabian stocks are into a second year of being among the best performers in the developing world. Stocks there are rallying on the back of recent announcement by index provider MSCI that when Saudia ...
Amid speculation that some stocks in Saudi Arabia would be added to the MSCI Emerging Markets Index, the iShares MSCI Saudi Arabia ETF (NYSE: KSA ) was one of 2018's best-performing single-country exchange ...
The iShares MSCI Emerging Markets ETF (NYSE: EEM) actually outperformed the S&P 500 by nearly 2.5 percentage points in January. For emerging market investors, this recent rally is sorely needed as EM equity took a beating in 2018. Using the Emerging Markets Stocks ETFs Q-Folio—an AI-based portfolio model from research platform Quantamize—we can see which emerging markets we should consider going over- or underweight in our portfolios.
Saudi Arabia's plans for an economy moving beyond its oil wealth are in doubt after the kingdom's less-than-credible, shifting narrative about the death of journalist Jamal Khashoggi. Crown Prince Mohammed bin Salman's most ambitious projects, including the planned smart city known as Neom, are now considered to be at risk as more overseas investors face public pressure and concerns about Saudi progress. A photograph of the son of slain Saudi journalist Jamal Khashoggi shaking hands with Saudi Arabia's Crown Prince Mohammed bin Salman was released earlier this week.
Saudi Arabia country-specific exchange traded funds were among the best performers Thursday, paring some of the latest political risk-off selling, after the kingdom posted strong corporate earnings and investor sentiment improved on the prospects of increased investments in the emerging economy. On Thursday, the iShares MSCI Saudi Arabia Capped ETF (KSA) gained 5.5%, and the ETF was testing both its short- and long-term resistance at the 50- and 200-day simple moving averages. Investors can also take a look at the recently launched Franklin FTSE Saudi Arabia ETF (FLSA) for a cheap way to access the Saudi Arabia market.