Saudi Arabia’s stocks surged over 5% to their highest level since May, following reports of potential easing of rules capping foreign ownership of listed companies. If the 49% cap is lifted, an additional $9.5 billion-$10 billion could flow into the country, boosting investor interest and liquidity in the market. This move could help revive the Saudi stock exchange, which has underperformed regional markets this year due to weaker oil prices. Saudi regulators have been making efforts to attract foreign investors, including opening doors for foreigners to buy listed firms with real estate in Mecca and Medina. The potential changes have already had an impact on neighboring markets, with Dubai and Abu Dhabi shares falling over 1% in reaction to the news.

Read more at Yahoo Finance: Saudi shares jump by most in 5 years on report of easing of foreign ownership rules