Tadawul Review: 

Tadawul All Share Index (TASI) rose on Wednesday, gaining 71 points (+0.6%) to close at 11,887. The trading session began positively with a 10-point increase at the opening, but gradually declined during the first hour. However, the index recovered and continued to rise, ultimately closing at its highest point of the day. In general, 16 out of 21 sectors closed in the green zone, and 125 shares rose while 100 fell. Banks (+0.4%), Utilities (+1.9%), and Health care equipment and services (+2.5%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+2.4%), Aramco (+0.7%), and Sulaiman Al habib (+3.3%) were the major contributors. The trading activity witnessed a decrease in volume by -8% to reach 335mn shares, while the value increased by 20% to reach SAR7.0bn in value traded.

 

 

Market Wrap International:  

U.S. stock indices advanced on Wednesday, with attention focused on an upcoming speech by Federal Reserve Chair Jerome Powell for more information on the outlook for interest rates. The Nasdaq Composite increased by 1.3%, the Dow Jones Industrial climbed by 0.7%, and the S&P 500 rose by 0.6%.

 

European stocks closed in the green on Wednesday afternoon as market participants prepared for an upcoming no-confidence vote in France’s parliament. The DAX increased by 1.1%, the CAC 40 gained 0.7%, and the broader Euro STOXX 600 rose by 0.4%. In contrast, the FTSE 100 saw a decline of -0.3%.

 

On Wednesday, South Korea's finance ministry declared it was ready to inject "unlimited" liquidity into the financial markets after President Yoon Suk Yeol lifted a martial law order that had caused the won to hit multi-year lows. Major Asian indices experienced losses, with the Hang Seng, SHCOMP, and KOSPI falling by -0.02%, -0.4%, and -1.4%, respectively. In contrast, the NIKKEI 225 posted a modest gain of 0.1%.