Saudi bourse to launch single stock futures on July 4

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Saudi woman walks at the Saudi stock market (Tadawul), in Riyadh, Saudi Arabia March 9, 2020. REUTERS/Ahmed Yosri

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DUBAI, June 26 (Reuters) - The Saudi stock exchange Tadawul plans to launch single stock futures on July 4, which will enable local and international investors to hedge and manage portfolio risks more effectively.

Tadawul said in a statement on Sunday that the underlying stocks for single stock futures have been selected from the largest and most liquid publicly listed companies.

Saudi authorities have introduced a raft of reforms to attract overseas share buyers and issuers as part of efforts to lure foreign capital and diversify the oil-dependent economy.

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Reporting by Hadeel Al Sayegh; Editing by Edmund Klamann

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