(Bloomberg) -- Saudi Arabian stocks this week traded at the most expensive relative to their Qatari peers since last year, a gap that's now narrowing. Valuations on members of the kingdom's benchmark index rose after MSCI Inc. earmarked the nation for potential emerging-market classification, while Qatari stocks fell after a Saudi-led bloc cut air, land and sea links with the Gulf state. Saudi equities “have become too expensive,” said Mazen Al-Sudairi at Al Rajhi Capital, who expects the correction to continue.
To contact the reporter on this story: Filipe Pacheco in Dubai at fpacheco4@bloomberg.net.
To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, Dana El Baltaji, John Viljoen
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