Tadawul Review:  

Tadawul All Share Index (TASI) fell on Wednesday, ‎dropping by 6 points (-0.06%) to close at 10,763. TASI ‎started the session on a positive note, opening 10 ‎points higher than the previous close. It continued to ‎rise for a few hours before gradually decreasing until ‎the end of the session. Overall, 11 out of 21 sectors ‎closed in the red zone, while 147 shares fell and 102 ‎roses. Banks (-0.6%), Real Estate (-0.8%), and Health ‎care equipment and services (-0.8%) sectors ‎contributed the most to the index fall. Stockwise, Al ‎Rajhi Bank (-0.9%), Saudi National Bank (-0.8%), and ‎Sulaiman Al Habib (-1.1%) were the major ‎contributors. The trading activity witnessed a decrease ‎in volume and value of -3% and -1%, respectively, to ‎reach 233mn shares and SAR4.2bn in value traded.‎

 

 

Market Wrap International:

U.S. stocks extended their rally on Wednesday, with the S&P 500 and Nasdaq hitting fresh record highs as investors expectation on a Federal Reserve rate cut next month, supported by recent inflation data. Materials (+1.69%), Health Care (+1.58%), and Consumer Discretionary (+1.29%) led the gains. The S&P 500 rose by 0.3%, NASDAQ gained by 0.1%, and the Dow Jones Industrial Average posted an increase of 1%.

Britain’s FTSE 100 closed higher, hitting a one-week peak as expectations of a U.S. Federal Reserve rate cut boosted appetite for riskier assets globally. The FTSE 100 gained by 0.2%, the CAC40 increased by 0.7%, the Euro STOXX 600 gained by 0.5%, and the DAX advanced by 0.7%.

Asian stocks rose, led by Hong Kong and Japan, after U.S. inflation met expectations and the U.S.–China trade truce was extended by 90 days. The SHCOMP gained by 0.5%, the Hang Seng experienced a gain of 2.6%, the NIKKEI 225 advanced by 1.3%, and the KOSPI posted an increase of 1.1%.