Seasonality in the Saudi Stock Market - (TASI trading in and around Ramadan)

In the next few days, Ramadan, the ninth month of the Hjiri (Islamic) calendar, will begin. Typically during this holy month, working hours are restricted, and most sectors witness subdued business activity. This year Ramadan will commence a few days after the admission of qualified foreign investors (QFIs) into the Saudi Stock Exchange (Tadawul). With these two events closely following each other, we thought it would be beneficial to get a better sense of the typical trading patterns observed in and around the Ramadan period, especially for the benefit of QFIs entering the market.