According to financial analyst: there are positive expectations forthe performance of the Saudi stock market (Tadawul) during September.
The financial analyst Dr. Hussein Al-Attas expressed optimism aboutthe performance of the Saudi stock market in September.
Al-Attas confirmed, in an interview with Al-Ikhbariya TV, thatinvestors have the opportunity to build their positions, and that companieswill start to distribute their profits during this month, which will givetraders of the stock market good opportunities to invest those profits,pointing to support the performance of indicators after positive signs betweenChina and the United States of America, their representatives to meet thismonth.
Al-Attas pointed to the impact of trade war between the two sides onthe basic materials sector according to the results of the second quarter, andmay affect the results of the third quarter, which will start a month from now.
Regarding the rate of decline in Tadawul to 8%, Al-Attassaid that this has not been seen in three years, pointing out that this islinked to the widespread fluctuations in commercial markets, uncertainty in theUS-China trade war, political events, and fluctuations in interest rates, whichare expected to a 1% reduction.
Al-Attas continued, saying: "The statements on high reduction ofinterest rates, affected the banking sector; after the loans given by banks tothe private sector, it has a problem in repayment and rescheduling, whichaffected the sector, noting that the reaction of the banking sector andinvestors towards interest rates was exaggerated," re-emphasizing that theSaudi banking sector is one of the best existing systems and in terms of solvencyconsidering the monitoring factors for loans to companies and individuals.
