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The Saudi Stock Exchange's TASI index fell 7.2% in May amid Saudi Aramco's secondary share offering, geopolitical tensions, and US Fed rate uncertainty. Analysts noted that selling pressure from the offering was expected but strong demand for Aramco shares helped stabilize liquidity and attract foreign capital. The offering's impact on TASI is significant, with a SAR 1 drop in Aramco's stock reducing the index by ~156 points. While the secondary offering is a major market event, analysts caution that broader factors like inflation and global economic conditions will continue to influence Saudi equity markets.
