Tadawul Review:

Tadawul All Share Index (TASI) broke its 15-day gaining streak on Sunday’s session, dropping by -30 points (-0.2%) to close at 12,605. TASI opened the session on a positive note of +7points but then started to decline gradually throughout the session until the end. Overall, 10 out of 20 sectors closed in the red zone, while 74 of 223 shares fell and 147 rose. Banks (-0.5%), Food and beverages (-0.9%), and Health care equipment and services (-0.6%) sectors contributed the most to the index’s fall. Stockwise, Al Rajhi Bank (-0.9%), SNB (-0.9%), Maaden (-2.1%) were the major contributors. The trading activity witnessed a 28% increase in volume, reaching 385 million shares, while the value traded decreased by -23% to SAR 6.6 billion.

 

 

 

Market Wrap International:

In the U.S, Investors are now starting to regain confidence in the expectation that the U.S. central bank will proceed with interest rate cuts "later this year," despite the release of January's robust inflation and labor market data. This sentiment follows comments made by New York Federal Reserve President John Williams.

In Europe, market participants eagerly await the release of inflation data on Friday. Expectations among euro zone consumers have risen for the year ahead and remained stable for the following three years. This further strengthens the evidence suggesting that the final phase of curbing price growth may present challenges.

In Asia, market participants will be closely monitoring global data that will shape the trajectory of interest rates. In China, the new home prices showed a slowdown in their month-on-month declines in January, indicating some stabilization in the major cities.