Tadawul Review:

Tadawul All Share Index (TASI) continued to rise for the ‎seventh consecutive session on Wednesday, gaining 84 points ‎‎(+0.7%) to close at 12,187. The index opened on a negative ‎note, falling by -11 points from the previous close, but it ‎gradually rose throughout the session until the end. Overall, ‎‎14 out of 21 sectors closed in the green zone, and 127 shares ‎rose while 97 fell. Banks (+2.4%), Telecommunications ‎‎(+1.4%), and Materials (+0.3%) sectors contributed the most ‎to the index rise. Stockwise, Al Rajhi Bank (+3.0%), Saudi ‎National Bank (+3.1%), and Alinma Bank (+1.9%) were the ‎major contributors. The trading activity witnessed an increase ‎in volume and value of 16% and 2%, respectively, to reach ‎‎404mn shares and SAR8.9bn in value traded.‎

 

 

 

Market Wrap International: 

Stocks were unevenly traded as investors looked forward to the annual US jobs report and the Federal Reserve meeting minutes for more hints on possible interest rate reductions. The S&P 500 climbed by 0.4%, the Dow Jones Industrial Average rose by 0.1%, and the Nasdaq Composite increased by 0.6%.

European stock markets were up on Wednesday, making a tentative recovery after breaking a lengthy winning streak the previous day. The CAC 40 and the DAX both reported a 0.5% increase, while the Euro STOXX 600 rose by 0.3%, reflecting a broadly positive trend across European markets.

 

Asian stocks showed mixed performance on Wednesday as the strengthening yen prompted further reductions in carry trades. Moreover, declines in JD.com shares weighed on Hong Kong’s Hang Seng index. The NIKKEI 225 experienced a notable loss of -0.3%, reflecting negative momentum in Japanese equities. In contrast, the Shanghai Composite saw a decline of -0.4%. Meanwhile, the KOSPI in South Korea posted an increase of 0.2%, suggesting a positive shift in investor sentiment.