The Tadawul All-Shares Index (TASI) rose 4.3 percent to close trading on the last day of the week on 7,835.54 points.
TASI, the largest Arab bourse, is 8.4 percent higher on the year.
After initially claiming that the journalist left the consulate, Saudi prosecutors said on Thursday that Turkish evidence shows the slaying was premeditated.
The crown prince on Wednesday called the killing "repulsive". WWE Co-President George Barrios later mentioned in his opening statement how it was a hard decision to continue with Crown Jewel in Saudi Arabia.
Turkish police are still searching for any trace of Khashoggi, as they press the Saudi authorities for the location of his body.
Turkey has dismissed Saudi efforts to blame rogue operatives and urged the kingdom to search "top to bottom" for those responsible for the killing.
That earlier assertion, in turn, backtracked from an initial statement that Saudi authorities knew nothing about what happened to the columnist for The Washington Post, who vanished after entering the consulate October 2.
Separately, Saudi Crown Prince Mohamad bin Salman on Thursday chaired a meeting of a newly created committee tasked with restructuring the Saudi intelligence apparatus, according to the official Saudi Press Agency.
Richard Branson temporarily suspended his partnership with Saudi Arabia in a potential space tourism venture via Virgin Galactic that included a promised $1 billion investment from the Saudi government.
The arrests were accompanied by an announcement that King Salman was placing his son, Mohammed, in charge of restructuring the Saudi intelligence apparatus - a move that all but ended speculation that the crown prince would be sanctioned. Cavusoglu said Turkey had no intention of taking the Khashoggi case to an worldwide court but would share information if an global inquiry were launched. "Everyone connected to the murder of the Saudi journalist needs to be investigated, tried in Turkey".
It's unclear when the president will make a final determination on the Khashoggi case.
Khashoggi's death was described as "murder" for the first time by Saudi Foreign Minister Adel al-Jubeir on Sunday.