MIDEAST STOCKS-Saudi Arabia surges ahead of market opening to foreigners

April 19, 2015 1:54 PM

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DUBAI, April 19 (Reuters) - Saudi Arabia's bourse surged on Sunday after the kingdom's securities regulator said it would open the market to direct foreign investment from June 15, while many other markets in the Middle East were weak.

The main Saudi index rose 4.0 percent, its biggest gain this year, to 9,620 points on its highest volume in 11 months. It broke minor technical resistance at the late March high of 9,377 points and stood above the 200-day average, now at 9,572 points.

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