Tadawul Review:

Tadawul All Share Index (TASI) fell on Wednesday, ‎dropping -83 points (-0.7%) to close at 11,709. TASI ‎started the session on a negative note, opening 8 points ‎lower than the previous close, and continued to decline ‎throughout the session. Overall, 17 out of 21 sectors ‎closed in the red zone, while 174 shares fell and 66 rose. ‎Materials (-1.5%), Energy (-2.1%), and Utilities (-1.9%) ‎sectors contributed the most to the index fall. ‎Stockwise, Aramco (-2.2%), ACWA Power (-2.0%), and ‎Maaden (-2.8%) were the major contributors. The ‎trading activity witnessed a decrease in volume and ‎value of -23% and -23.5%, respectively, to reach 202mn ‎shares and SAR4.5bn in value traded.

 

 

Market Wrap International:

Wall Street surged on Wednesday after Fed Chair Jerome Powell reassured investors, indicating no immediate policy changes despite trade concerns. The central bank kept interest rates unchanged, reaffirmed its outlook for two rate cuts this year, and adjusted economic forecasts in a move viewed as dovish. In the S&P 500, Consumer Discretionary led with a 1.9% gain, followed by Energy at 1.59% and Information Technology at 1.42%. The S&P 500 rose by 1.1%, the Nasdaq increased by 1.4%, and the Dow Jones Industrial Average advanced by 0.9%.

European stocks edged higher on Wednesday, extending gains from the prior session as Germany moved closer to a major spending plan, while investors awaited the U.S. Federal Reserve’s interest rate decision. The CAC 40 rose by 0.7%, the Euro STOXX 600 advanced by 0.2%, and the FTSE 100 edged up by 0.02%, while the DAX dropped by -0.4%.

Asian stocks advanced despite Wall Street’s tech-driven sell-off, as investors reduced exposure to U.S. risk assets. The Hang Seng rose by 0.1%, and the KOSPI gained by 0.6%. While the SHCOMP decreased by -0.1%, and the Nikkei 225 by -0.2%.‎