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Saudi Arabian shares have climbed 14 percent this year, partly as foreign investors bet the country will win upgrades to emerging-market status, which they expect to trigger billions of dollars of inflows from funds tracking global benchmark indexes.Saudi Arabian shares have historically traded at a premium to the average for emerging markets, with access largely restricted to local investors until three years ago.Estimated price-to-earnings ratios for the benchmark Tadawul All Share Index have been above the 50-day average for most of 2018, while the same measure for the MSCI Emerging Markets Index has traded below it.Investors also need confidence that Saudi companies can achieve the ambitious earnings expectations set by analysts, to justify paying current share prices.The Tadawul All Share Index rose 0.3 percent in Riyadh Tuesday.
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