Tadawul Review:

Tadawul All Share Index (TASI) rose on Wednesday, ‎gaining 12 points (+0.1%) to close at 11,961 opened ‎trading about 3 points above its previous close before it ‎gradually fell into negative territory where it spent the ‎majority of the session. However, the index surged ‎towards the close, recovering most of its losses to ‎register a modest 0.10% gain. In general, 10 out of 21 ‎sectors closed in the green zone, and 117 shares rose ‎while 106 fell. Banks (+0.2%), Energy (+1.0%), and Food ‎and beverages (+1.5%) sectors contributed the most to ‎the index rise. Stockwise, Aramco (+1.1%), Saudi Nation ‎Banck (+0.9%), and Savola (+10%) were the major ‎contributors. The trading activity witnessed an increase ‎in volume by 46% to reach 359mn shares, while the ‎value decreased by -5.5% to reach SAR4.6bn in value ‎traded.

 

 

Market Wrap International:  

The Federal Open Market Committee's announcement on Wednesday of a quarter-point reduction in interest rates, alongside a forecast for just two more rate cuts in 2025, caused the Dow Jones Industrial Average and other indices to fall sharply. This triggered the Dow’s first ten-day losing streak, the longest since 1974. The Nasdaq Composite experienced a significant decline by -3.6%, the S&P 500 plummeted by -2.9%, and the Dow Jones Industrial Average dropped by -2.6%.

European markets saw gains on Wednesday, with investors reacting to U.K. inflation data and a mixed session in Asia, while also preparing for the U.S. Federal Reserve's final monetary policy decision of the year. The CAC 40 increased by 0.3%, the broader Euro STOXX 600 climbed by 0.1%, and the FTSE 100 gained 0.05%. Meanwhile, the DAX edged down by -0.02%.

Ahead of the Federal Reserve's anticipated policy announcement, Asian markets saw mixed movements on Wednesday, with Nissan's shares jumping more than 20 percent after reports of merger talks with Honda. Major Asian indices saw positive movement, with the KOSPI rising by 1.1%, the Hang Seng advancing by 0.8%, and the SHCOMP increasing by 0.6%. However, the NIKKEI 225 experienced a decline, falling by -0.7%.‎