Tadawul Review: 

Tadawul All Share Index (TASI) rose on Thursday, up by +31 points (+0.3%) to close at 12,188 levels. The trading session began on a positive note, with a one-point increase in the opening, but then displayed fluctuations throughout the session until it closed at the highest point at the end of the session. In general, 10 out of 21 sectors closed in the green zone, and 108 shares rose while 113 fell. Banks (+1.0%), Food and beverages (+1.1%), and Materials (+0.2%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+0.8%), Saudi National Bank (+1.6%), and Aramco (+0.4%) were the major contributors. The trading activity witnessed an increase in volume and value of 61% and 19%, respectively, to reach 387mn shares and SAR8.8bn in value traded.

 

 

 

Market Wrap International: 

When global tech systems crashed on Friday, disrupting airports and offices, questions arose about the vulnerability of our digital infrastructure in 2024. Geopolitical tensions drove tech stocks down sharply. On Friday, the Dow Jones Industrial Average recorded a -0.9% decrease, reflecting negative momentum across various sectors. The S&P 500 index showed a -0.7% loss, and the NASDAQ Composite posted a -0.8% decline.

In European markets, trading sentiment was mixed as investors reacted to a variety of economic indicators and corporate earnings reports. The FTSE 100 in London posted a loss of -0.6%, while the DAX in Frankfurt declined by -1%. Meanwhile and the CAC 40 in Paris saw a modest decrease of -0.7%.

The focus of the Asian markets turned to chip companies following a report stating that President Joe Biden is contemplating imposing the harshest trade restrictions possible if firms such as ASML from the Netherlands and Tokyo Electron from Japan persist in exporting advanced semiconductor technology to China. The major Asian stock indices displayed a range of performances: the KOSPI dropped by -1%, the Nikkei 225 fell by -0.2%, while the SHCOMP Index experienced an increase of 0.2%.