The Saudi Stock Exchange achieves profits for the third week consecutive

The Saudi Stock Market Index “Tassi” still achieved profits for the third week in a row, but the rate dropped this week, to be satisfied with a slight increase of 0.2%, after scoring 1.6% over the past week and 4.3% in the previous week. The index completed during the contemporary session and abandoned early profits, which led him to exceed the level of 11300 points, in a movement that reflects the sales pressure of leadership shares in banks and communications, and centers replacement operations. Ahmed Al -Rasheed, the first financial analyst in the Al -iqtisadiya newspaper, said in an interview with ‘Al -sharq’ that the performance of ‘Tassi’ was good during the week, in light of the record highs at the weekly level. He was of the opinion that reducing profits by the end of this week is due to the anticipation of investors for financial results, adding that the current performance does not reflect an optimistic view of next week. Ahmed Aqel, the financial analyst at the “Trues House” business, is obviously of the opinion that the market is normal for the profit -mowing operations after the wave of strong heights that followed the suspension of the Israeli -Iran War. He added in an intervention with Al -Sharq that the current period is calm and pressure from some investors and large portfolios to replace the centers with the middle of the year, pointing out that the return of the trade war caused by Trump’s customs duties also had an impact on the market. The shares of real estate companies expel their profits; Most of the shares of real estate businesses have expanded the profits they achieved in the previous session to close today on declines of between 0.3% and 5%. This trend violated the share of “Dar al -Arkan”, which increased by 1.9%, the ‘Sinomi Center’ share, which works for commercial centers in the various regions of the kingdom, with an increase of more than 1.6%, “Makkah to” create 0.5%, and “its highness” with a minor increase. The property sector index rose 2.6% in yesterday’s session, supported by the approval of the Council of Ministers on a system of foreign ownership of real estate in the kingdom within specific geographical domains, especially the capital, Riyadh and Jeddah. Financial analyst Youssef Youssef believes that the decision will attract foreign property development companies to the Saudi market, indicating that it will also support the basic materials sectors, especially cement, and banks that will pump loans and financing for projects, as well as lending to buy new units. During an intervention with “Al -Sharq”, Youssef said: “Saudi Arabia contains a large number of expatriates, and an opportunity to have the property will generate new projects and opportunities … The most important businesses that can benefit from this decision are” Retal “because it is a wonderful place in the Riyadh and Medina region.”