Saudi Stocks Jump 3.1% in Biggest One-Day Gain in 13 Months

The rebound looks more technical than fundamental: an oversold bounce amplified by headlines about regional diplomacy, not a reassessment of Saudi earnings or oil fundamentals. The month-to-date loss still sits at 6.4%, so the index has recovered only part of a steep drawdown. The open question is whether de-escalation signals from the reported Saudi, Pakistani and Turkish outreach to Iran hold, since Gulf equities have been trading largely as a proxy for Middle East risk. Absent confirmation on that front, rallies of this kind have tended to fade.