Tadawul Review: 

Tadawul All Share Index (TASI) rose on Sunday’s session, rising by 140 points (+1.1%) to close at the 12,285 level. TASI opened the session positively by +56 points and continued to rise gradually during the session until the end. Overall, 18 out of 20 sectors closed in the green zone, while 152 shares rose and 62 fell. Banks (+2.1%), Materials (+0.6%), and Telecom (+1.4%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+1.5%), Saudi National Bank (+2.2%), and Alinma Bank (+4.9%) were the major contributors. The trading activity witnessed a decline in volume and value by -19% and -6%, respectively, to reach 379mn shares ‎and SAR9.4bn in value traded.

 

 

 

Market Wrap International:

Investor optimism is prevalent as the new year begins in the U.S., potentially leading to a challenging period for U.S. stocks if certain expectations are not fulfilled. After the emd of 2023, it is likely that underlying price pressures in the U.S. diminished, aligning with the Federal Reserve's positive outlook on inflation trends.

In Europe, Investor sentiment takes precedence as markets continue to anticipate a rapid decline in borrowing costs, despite the European Central Bank's case for maintaining record-high interest rates. This comes as inflation jumped as expected last month, further reinforcing the central bank's stance.

In Asia, equities experienced a gloomy beginning to the year as traders grappled with the news of Chinese shipping firm COSCO's suspension of shipping to Israel. This development unfolded alongside the disruption of shipping lanes in the Red Sea due to attacks carried out by Iranian-backed Houthi militants in Yemen.