Saudi Arabia?s Tadawul All Share stock index (TASI) reached 12,260 on Tuesday, the highest since June 2006 as oil prices extended gains to an over 7-year high on worries about supply disruptions after Yemen's Iran-aligned Houthi group attacked the UAE, the third-biggest OPEC producer.
TASI's climb to over a 15-year high is a continuation of last year's successful rally ? which saw the index rise by +28.6% ? after a shy 2020 (+3.57%). Year-to-date, the TASI has gained 8.08%, lifted by shares of Saudi Tadawul Group Holdings (+34%), the Saudi British Bank (+26.5%), ACWA Power (+21.43%), and the Saudi Research & Marketing Group (+21.2%).
Consequently, ETFs that track Saudi Equities have trended up, including iShares MSCI Saudi Arabia ETF (+8.24%), iShares MSCI Saudi Arabia Capped UCITS ETF (+7.12%), Invesco MSCI Saudi Arabia UCITS ETF (+9.28%), and Franklin FTSE Saudi Arabia ETF (+8.0%).
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