Tadawul Review: 

Tadawul All Share Index (TASI) rose on Sunday, up by +16 points (+0.1%) to close at 12,518 levels. TASI opened the session on a positive note of +63 points and  continued fluctuating throughout the session until the end. In general, 16 out of 20 sectors closed in the green zone, and 147  shares rose while 76 fell. Insurance (+3.5%), Utilities (+2.0%), and Energy (+0.5%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+2.6%), Aramco (+0.5%), and Mouwasat (+4.4%) were the major contributors. The trading activity witnessed an increase in volume by +2% to reach 316mn shares while decline in value by -22%, to reach SA6.4bn in value traded.

 

 

Market Wrap International:

In the U.S. market, investors eagerly anticipate the upcoming earnings reports of major technology and growth companies next week. These reports are expected to serve as a crucial assessment for the U.S. stock rally, which has shown signs of weakening as hopes for interest rate cuts diminish.

In Europe, with apprehensions surrounding the Federal Reserve's extended interest rates and the approaching corporate earnings season, investment advisory companies expect a moderate outlook for the rest of the year. Their projection for the Stoxx Europe 600 Index suggests it will reach 498 points by the end of the year.

In Asia, next week, the stock market's performance will be influenced by BOJ indications of potential interest rate hikes and reduced bond purchases in response to rising inflation. Additionally, investors will be closely monitoring China's measures aimed at attracting foreign investors to its technology sector, as it may impact market dynamics and stock performance.