Tadawul Review:

Tadawul All Share Index (TASI) rose on Wednesday, gaining 86 points (+0.7%) to close at 11,682. The index opened slightly above its previous close and continued to rise steadily through the session. In general, 15 out of 21 sectors closed in the green zone, and 134 shares rose while 118 fell. Banks (+0.7%), Utilities (+4.5%), and Energy (+1.0%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+6.0%), Aramco (+0.9%), and Al Rajhi Bank (+0.8%) were the major contributors. The trading activity witnessed an increase in volume and value of 29% and 15% respectively, to reach 346mn shares and SAR6.7bn in value traded.

 

 

Market Wrap International:

U.S. equities edged higher as strong bank earnings and a rebound in technology shares lifted sentiment ahead of key inflation data, with dovish signals from the Federal Reserve reinforcing expectations of rate cuts later this year. Financials and chipmakers led gains, offsetting weakness in energy, leaving the S&P 500 up 0.4%, the Dow Jones flat, and the Nasdaq 0.7% higher.

European stocks were mixed as strong corporate results from French luxury names drove the CAC 2.0% higher, while the DAX (-0.2%) and FTSE 100 (-0.3%) lagged on weaker industrial and retail data. Broadly, easing bond yields and solid corporate sentiment supported a modest regional advance, with the Euro Stoxx 600 up 0.6%.

Asian markets rallied sharply on renewed optimism for regional stimulus and a rebound in technology shares, particularly in semiconductors. The Kospi jumped 2.7%, while the Nikkei 225 and Hang Seng each rose 1.8%, and the Shanghai Composite gained 1.2%.