Tadawul Review: 

The Tadawul All Share Index (TASI) continued to rise on Wednesday, rising by +77 points (+0.6%) to close at 12,158 levels. The trading session started on a positive note, with the open rising by 10 points, but then saw volatility throughout the session until the close. In general, 20 out of 21 sectors closed in the green zone, and 157 stocks rose while 64 stocks fell. Utilities (+2.7%), Materials (+0.5%), and Food and beverages (+1.7%) sectors contributed to the rise in the index. On the equity side, ACWA Power (+2.5%), Aramco (+0.4%), and Almarai (+2.6%) were the major shareholders. Trading activity witnessed an increase in trading volume and value by 4% and 2%, respectively, to reach 240 million shares and a trading value of 7.4 billion riyals.

 

 

 

Market Wrap International:

Tuesday's historic closing high for the Dow Jones Industrial Average and Wall Street stocks was driven by indications that the US Federal Reserve is poised to start an easing cycle to manage inflation and ward off a recession, according to a Reuters report. The Nasdaq is dropping because of Donald Trump's recent comments on Taiwan, where he suggested Taiwan should pay for U.S. protection and criticized its role in the semiconductor industry, hinting at potential reluctance to support Taiwan if he wins the presidency. The S&P 500 index saw a -1.4 loss.

European markets are down today due to higher-than-expected inflation in the UK, with core and services inflation rates remaining elevated. The major European indices exhibited mixed performances, with the FTSE 100 gaining 0.3% amid strong earnings reports from key sectors. In contrast, the DAX retreated by -0.4% due to concerns over economic growth prospects. Meanwhile, the CAC 40 in France remained relatively unchanged, showing resilience amidst fluctuating market sentiments.

Global stocks fell Wednesday as technology shares sank after a report said the U.S. plans tighter import controls on companies that share chip-making technology with China. The major Asian indices showed mixed results, with the KOSPI down -0.8% and the Nikkei 225 dropping -0.4%. The Hang Seng index showed resilience, managing to eke out a modest gain of 0.1% despite broader declines in other major indices.