Saudi Stocks Recover From Near Bear as Investors See Bargains
This article is for subscribers only.
Saudi Arabian stocks reversed losses that put them on the brink of a bear market after some investors speculated the selloff was overdone.
The Tadawul All Share Index closed 0.3 percent higher at 8,012.83 after retreating as much as 3.5 percent. The gauge traded at about 13 times 12-month forward earnings, near the lowest since January. Its 14-day relative strength measure increased to 18 after falling to the weakest since December on Wednesday. A level below 30 is a signal to some investors of a recovery in prices.