Tadawul Review:

Tadawul All Share Index (TASI) ended Thursday’s session up by +37 points (+0.3%) to close at the 12,203 level. TASI opened the session  with gains of +9 points and continued the session steady until the end. In general, 13 out of 20 sectors closed in the green zone, while 109  shares rose and 108 fell.  Banks (+1.1%), Food and beverages (+2.3%), and Real Estate (+0.9%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+1.8%), Alinma Bank (+2.9%), and Saudi Awwal Bank (+3.4%) were the major contributors. The trading volume ‎activity increased  by 13%% DoD to reach 346mn shares, while ‎the trading value declined by -12% DoD to reach SAR9.3bn.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 closed above 5,000 for the first time on Friday by 0.6% boosted by megacaps and chip stocks, with 8 out of 11 sectors rising, notably led by the Information Technology sector. Despite geopolitical concerns and bond market apprehension influenced by hawkish central bank rhetoric, the Nasdaq composite also saw a rise of 1.2%. The market was supported by strong earnings, counteracting concerns surrounding U.S. regional banks and China's markets.

In Europe, the Stoxx Europe 600 index concluded Friday's session with a slight decline of -0.1% as investors processed a multitude of corporate earnings on the busiest day and analyzed comments from European Central Bank board members. Meanwhile, the FTSE 100 experienced a sharper drop of -0.3%.

 

In Asia, China's sharp decline in inflation, the largest in over 14 years, poses additional challenges for policymakers in restoring market confidence and addressing deflationary risks. The Hang Seng Index declined by -0.8%. In Japan, the TOPIX index experienced a fell of -0.2%, while the Nikkei 225 gain by -0.1%.