Saudi Shares Spike As Government Plots Housing Aid Package

Shares in Saudi Arabia spiked in trading today, and are now nearly back from their crisis lows.

The Tadawul All Share Index was up 1.5% in today’s trading, and is now back to its February 19th level.

The spike is the result of Saudi Arabia’s government setting up a housing ministry, that will attend to rising demand for homes in the country. It comes after further social assistance was provided by the government in recent weeks.

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Note the Saudi market’s strong fightback in recent days.

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Photo: Bloomberg

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