April 8, 2018 / 3:30 PM / 6 months ago

Foreigners bought net $229 million Saudi stocks last week

DUBAI (Reuters) - Foreign investors bought a net $229 million of Saudi Arabian equities last week, exchange data showed on Sunday, indicating overseas demand remained strong despite a pull-back by the market index in the early part of the week.

Buying by all types of foreign investor totaled $441 million and selling $213 million, with investors using swaps buying almost twice as much on a net basis as qualified foreign institutions, which invest directly.

Net buying fell from $301 million in the previous week but was still the fourth highest weekly total this year. Foreigners have been net buyers every week so far in 2018.

Reporting by Andrew Torchia, editing by Larry King

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