Tadawul Review: 

Tadawul All Share Index (TASI) rose on Sunday’s session, rising by 12 points (+0.1%) to close at 11,090 levels. TASI opened the session unchanged and subsequently began to rise, encountering significant fluctuations throughout the session until the end. Overall, 14 out of 20 sectors closed in the green zone, while 120 shares rose and 92 fell. Utilities (+1.7%), Media (+1.8%), and Capital goods (+1.5%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+2.8%), Al Rajhi Bank (+0.3%), and Saudi Research (+3.1%) were the major contributors. The trading activity witnessed an increase in volume by 34% to reach 225mn while the value declined by -10% to reach 3.7bn in value traded.

 

 

 

Market Wrap International:

In the U.S., Investors are closely monitoring the commencement of the seasonal shopping season, looking for indications of economic strength. Recent data revealed that while U.S. business activity remained stable in November, there was a decrease in private sector employment.

In Europe, amid expectations of continued decline in German home prices due to weakening demand caused by high interest rates, investors and analysts express growing concerns about the economy. The budget crisis has consequently prompted a shift in focus towards reforming self-imposed borrowing limits, even among opposition conservatives, as the need for economic stability takes precedence.

In Asia, the week began in Asia with news of efforts to alleviate tensions in the crucial Asian region, as the foreign ministers of China, Japan, and South Korea reached an agreement to resume cooperation and prepare for a leaders' summit. Meanwhile, in Korea, investors are making bearish bets on single stock futures, which is an unintended outcome stemming from the short-selling ban implemented last month.