Tadawul Review:

Tadawul All Share Index (TASI) rose on Thursday, gaining 49 ‎points (+0.4%) to close at the 12,130 level. The index opened ‎strong but dipped during the first 22 minutes before steadily ‎climbing again as the day progressed. In general, 13 out of 21 ‎sectors closed in the green zone, and 129 shares rose while ‎‎90 fell. Utilities (+2.9%), Insurance (+2.0%), and Health care ‎equipment and services‎‎ (+1.2%) sectors contributed the most ‎to the index rise. Stockwise, ACWA Power (+3.9%), Saudi ‎Awwal Bank (+1.7%), and Tawuniya (+4.9%) were the major ‎contributors. The trading activity witnessed a decrease in ‎volume and value by -35% and -52%, respectively, to reach ‎‎233mn shares and SAR4.6bn in value traded.‎

 

 

 

Market Wrap International: 

US equities saw gains, with the S&P 500 reaching a new closing high on Monday as traders analyzed remarks from Federal Reserve officials while trying to build on last week’s gains after the interest rate cut. Strong market confidence was reflected in the S&P 500's 0.3% rise, the Nasdaq Composite's 0.1% gain, and the Dow Jones Industrial Average's 0.1% gain.

European shares saw an increase on Monday, but the momentum from last week was dampened by weak eurozone economic data. On Friday, September 27, 2024, Germany will announce its unemployment rate. The FTSE 100 climbed by 0.4%, the CAC 40 by 0.1%, and the DAX by 0.7%.

 

In an effort to boost the second-largest economy in the world, China's central bank lowered the short-term policy rate and enhanced financial system liquidity on Monday, resulting in mixed closing results for Asian stocks. On September 25, 2024, the Bank of Japan will release its Core Consumer Price Index (CPI) year over year. The KOSPI soared by 0.3%, the SHCOMP jumped by 0.4%, while the Hang Seng Index decreased by -0.1%.