An investor walks past a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia June 29, 2016. REUTERS/Faisal Al Nasser
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Foreign investors are piling into Saudi Arabian stocks, counting on the country's inclusion in emerging-markets indexes at a time when the outlook for oil prices is improving.Foreigners were net buyers of more than 5.5 billion riyals ($1.47 billion) of shares for 11 straight weeks this year, according to data provided by Saudi Arabia's stock exchange. Foreign firms from Renaissance Capital to Deutsche Bank AG and Goldman Sachs Group Inc. are planning to expand in Saudi Arabia this year as they seek to benefit from a pickup in market activity fueled in part by government reforms to steer the economy away from oil.The country's main gauge is up 6.9 percent this year – more than the average gain of 4.2 percent for stocks from developing economies.
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