The Tadawul All Share Index fell 1.3 percent in the wake of the FTSE Russell announcement but is still is up 8 percent this year.
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As Saudi Arabia celebrates its first ever emerging-market classification by a major index compiler, history suggests the market may be headed for a retreat. The Saudi stock benchmark advanced to the highest since 2015 last week before FTSE Russell said it was classifying the country as a secondary emerging market, with actual inclusion set to happen in stages starting a year from now. The country's main index lost 15 percent last year, even after MSCI enacted an upgrade of the country from frontier to emerging market in June.While the Tadawul All Share Index fell 1.3 percent in the wake of the FTSE Russell announcement, it's still is up 8 percent this year, compared with a 1.1 percent gain for the MSCI Emerging Markets Index.
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