Ok, I’ve seen the video and I say he bowed.  I mean notice how low he goes in the bow.  When you go that low your either bowing, polishing the royal jewels, or shining a shoe.  I didn’t see any shoe shine equipment in his hands so that narrows it down to the first 2.

I’ve been to Japan and I’ve bowed to a few Japanese co-workers who returned the bow.  The Saudi King did not return a bow.