The Saudi Stock Market (Tadawul) index cut through the level of 10,000 points, achieving gains exceeded 3% after the opening of the market today which is considered as the highest level of its kind in nearly seven years. This came in the background of the cabinet's decision taken at its last night session in which it agreed that Capital Market Authority, in accordance with the timing appropriate, shall have the right to open the way for foreign financial institutions to buy and sell stocks listed on Tadawul, based on the Authority's rules in this regard. The Capital Market Authority has hastened to publish a statement on its website today in which it confirmed that it will take a number of legal procedures before allowing to open the market to investments of foreign financial institutions eligible in stocks that would be listed during the first half of 2015.
