Saudi Arabia permits GCC residents to invest in its main stock market Tawadul - thoughts?

[OKboomer]

Seeing this news today. Basically, anyone with a UAE/GCC residence card can invest in Saudi stock market now.

Anyone has any thoughts on it? Would you punt money there? Do you think UAE based foreigners will look for Saudi stocks to play with and pump them?

Anyone has experience generally with investing in Saudi public companies? Would English alone be feasible, or reporting only in Arabic?

 

[Martin Everson]

Anyone has any thoughts on it?

I would need to take a look. Saudi stock exchange has never crossed my mind and I have no experience with it. Would be interested also to know what others think.

https://www.saudiexchange.sa/wps/portal/saudiexchange/ourmarkets/main-market-watch

 

[OKboomer]

Their SPX equivalent, TASI, is currently at the same price levels as 20 years ago (!..), don't know what to make of it. People always say Saudi money will pump bitcoin, etc, but why wouldn't Saudis pump their own stock market?
Not sure if possible, feasible or even necessary to try to value their stocks based on fundamentals or P/E etc