Tadawul Review:

Tadawul All Share Index (TASI) rose for the fifth day of Tuesday's session, rising by 14 points (+0.1%) to close at the 11,395 level. TASI opened the session positively by 6 points and continued fluctuating throughout the session until the end. Overall, 12 out of 20 sectors closed in the green zone, while 104 shares rose and 109 fell. Banks (+0.4%), utilities (+2.6%), and insurance (+0.8%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+2.9%), Saudi National Bank (+1.1%), and Riyad Bank (+2.6%) were the major contributors. The trading activity witnessed a decline in volume and value of -0.3% and -17%, respectively, to reach 252mn shares and SAR6.2bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 ended Tuesday’s session on a positive note by 0.5%, with 8 out of 11 sectors rising. The release of inflation data (CPI), which revealed 3.1% growth on an annual basis, has now placed substantial influence on investor expectations regarding the future trajectory of interest rates, as the upcoming announcement of the Federal Reserve's policy will play a critical role in shaping these expectations. The Nasdaq Composite rose by 0.7% as the yields on 2–10-year tenures fell by 4.7–4.1 bps.

In Europe, investors are betting on a peak in rate hikes and an eventual start to rate cuts as data shows slowing economic growth and rising inflation ahead of policy decisions by the European Central Bank and the Bank of England on Thursday. The Stoxx Europe 600 ended down by -0.2% and the FTSE 100 index slightly negative by -0.03% as British wage growth slowed by the most in almost two years.

In Asia, stocks rose on expectations of additional stimulus measures as traders looked to a meeting of key Chinese economic policymakers. The Hang Seng index ended positively by +1.1%, and the Shanghai Composite index saw increases of +0.4%. The TOPIX index was down by -0.2% while NIKKEI 225 index rose by 0.2% after Japan's wholesale inflation slowed sharply in November as fuel and commodity prices fell.