Hong Kong Woos Saudi Money in Attempt to Revive Stock Market

(Bloomberg) — Hong Kong is turning to oil-rich Saudi Arabia for new funds to help offset a growing list of challenges facing its stock market.

The Saudi Tadawul Group and Hong Kong Exchanges & Clearing Ltd. are co-organizing a conference Thursday at a very opportune time given the city needs fresh stock listings and fund inflows to boost its status as a financial hub. While Hong Kong stands to benefit from the forum, it will also involve an army of Saudi company officials seeking more exposure to Asian investors.