Tadawul Review: 

Tadawul All Share Index (TASI) rose on Wednesday’s session, rising by 17 points (+0.1%) to close at the 11,889 level. TASI began the session on a positive note, gaining 32 points initially, and continued volitale throughout the session until the end. Overall, 13 out of 20 sectors closed in the green zone, while 134 shares rose and 76 fell. Materials (+0.4%), Energy (0.3%), and Consumer Services (+2.0%) sectors contributed the most to the index rise. Stockwise, Aramco (+0.3%), Riyad Bank (+1.2%), and Saudi Awwal Bank (+1.2%) were the major contributors. The trading activity witnessed an increase in volume and value of +16% and +5%, respectively, to reach 281mn shares and SAR7.9bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 closed higher by +0.1%, with 8 out of 11 sectors rising as investors continued optimism with hopes that major central banks such as the U.S. Federal Reserve will start cutting interest rates early next year. The Nasdaq Composite rose by +0.2%, with oil prices stabilizing on Wednesday after the previous day's strong gains.

In Europe, markets resumed trading with advanced on Wednesday with the Stoxx Europe 600 ending up by +0.2% as Investors kept a close eye on Red Sea developments as select major shippers resumed using the trade route, despite ongoing attacks and tensions in the broader Middle East. The FTSE 100 was up by +0.4%.

In Asia, following calls from policymakers for deeper debate on a future exit from ultra-loose monetary policy, the economy exhibited positive advancements in its journey towards attaining the desired price target set by the central bank. The Japanese indices rose TOPIX (+1.1%) and the Nikkei 225 (+1.1%) on Wednesday,and in China, the Shanghai Composite index saw a rose by +0.5%.