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The Saudi stock market is poised to achieve its highest annual closing level in 18 years, with the Tadawul All Share Index (TASI) rising by approximately 13.5% since the beginning of 2023 until the year's end. The market successfully reversed last year's losses of 7.1%, aiming to close above 11,800 points, marking the highest since 2005 when the index reached 16,713 points. The market concluded trading for the year on Sunday. The influx of liquidity and sustained activity in offerings played a crucial role in supporting the market. Additionally, the approval of various amendments and regulatory measures aimed at enhancing the efficiency of the Kingdom’s stock exchange and attracting investment contributed to this positive trend. Key amendments implemented this year included the enforcement of the new Companies Law and its executive regulations from the start of 2023, the adoption of rules governing foreign investment in securities, amended financial adequacy rules, revisions to the executive regulations of the Companies Law for listed companies, and the opening of the real estate sector in Makkah and Madinah for foreign investment. The Capital Market Authority canceled its share of the commission for trading sukuk and bonds and announced the commencement of accepting applications for the "Alternative Trading Law."

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