Tadawul Review:

Tadawul All Share Index (TASI) rose for the 15th day, ‎climbing by +28 points to close at the 12,634 levels. At the ‎start of the session, TASI exhibited a positive opening, with an increase of 6 points, and continued fluctuating throughout the session until the end. ‎In general, 11 out of 20 sectors closed in the green zone, ‎while 90 shares rose and  129 fell.  Banks (+0.5%), Energy‎‎ (+1.1%), and Insurance (+1.0%) sectors contributed the most ‎to the index rise. Stockwise, Aramco (+1.1%), SNB ‎‎(+1.1%), and Bank AlBilad (+3.1%) were the major contributors. The ‎trading activity witnessed a decline in volume and value by ‎‎-17% and -16%, respectively, to reach 301mn shares and ‎SAR8.6bn in value traded.‎

 

 

 

Market Wrap International:

In the U.S., the S&P 500 reached new highs of on Friday, propelled by strong corporate results, with a (0.03%) increase and gains in seven sectors. Some investors now believe that monetary policy will regain control, shifting the focus away from the Federal Reserve's interest rate strategy. The Dow Jones experienced a surge of 0.2%, while the Nasdaq Composite fell by 0.3%.

In Europe, the Stoxx Europe 600 index reached a new record high for the second consecutive day, rising by (0.4%). However, comments from European Central Bank President Christine Lagarde tempered investors' sentiment. The FTSE 100 also experienced modest gains of 0.3%.

In Asia, the Shanghai Composite index rose by 0.6%, highlighting the remarkable turnaround of Chinese stocks with fueled cautious optimism that the rally will continue as long as favorable market policies are maintained while Hang Seng was down by -0.1% However, in Japan, the market was closed.