Tadawul Review:

Tadawul All Share Index (TASI)  fell on Wednesday’s session, dropping by -65 points (-0.5%) to close at 12,739. TASI began the session positively by 11 points but then started to decline gradually during the session until the end. Overall, 16 out of 21 sectors closed in the red zone, and 133 shares fell while 86 rose. Banks (-1.0%), Energy (-0.6%), and Telecom (-0.6%) sectors contributed the most to the index’s fall. Stockwise, Al Rajhi Bank (-1.1%), Aramco (-0.6%), Maaden (-2.7%) were the major contributors. The trading activity witnessed a decline in volume and value of -23% and -17%, respectively, to reach 353mn shares and SAR8.2bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 recorded a 0.9% increase, with 9 sectors witnessing gains, and the Nasdaq composite also saw a 1.3% rise. After the Federal Reserve calmed investor concerns by hold interest rate steady and signaling the possibility of up to three rate cuts this year.

In Europe, the Stoxx Europe 600 index remained unchanged while the FTSE 100 slightly fell by -0.01% after Britain’s inflation rate fell more sharply than expected, hitting its lowest level in two and a-half years.

In Asia, the Bank of Japan's decision to align with market expectations and end eight years of negative interest rates has changed investor anticipation as Japanese indices were closed , and  the yen weakened. The Hang Seng index ended on a positive note, rising by 0.1%, and the Shanghai Composite Index rise by 1.3%.