Tadawul Review:

Tadawul All Share Index (TASI) fell for the third day, dropping by -29 points (-0.3%) to close at the 11,100 levels. TASI started the day with a decline of -3 points and continued a downward trajectory throughout the session. Overall, 12 out of 20 sectors closed in the red zone, while 142 shares fell and 76 rose. Banks (-0.7%), Utilities (-0.8%), and Food and Beverages (-0.7%) sectors contributed the most to the index fall. Stockwise, Saudi National Bank (-2.2%), ACWA Power (-1.2%), and Almarai (-1.8%) were the major contributors. The trading activity witnessed a decline in volume and value of -25% and -24%, respectively, to reach 201mn shares and SAR4.2bn in value traded.

 

 

 

Market Wrap International:

In the U.S., on Wednesday’s session, the S&P 500 closed up by +0.4% before markets paused for Thanksgiving on Thursday, with ten of the eleven listed sectors rising. The Nasdaq Composite also rose by +0.5% as the conflict between Israel and Palestine finally started to end after their first truce for a ceasefire, which gave some relief to investors.

In Europe, the Stoxx Europe 600 ticked up by +0.3% following the Federal Reserve policymakers’ agreement on a cautious approach towards future interest rate changes, which investors viewed as a dovish shift while, the FTSE-100 index saw a decline of -0.2% as the pound was last down 0.1% against the dollar at $1.2525.

In Asia, the Chinese indices Shanghai Composite was up down -0.8% while Hang Seng closed without change as government advisers are planning to propose growth targets for the next year, ranging from 4.5% to 5.5%, at their next meeting. The Japanese shares rose (Topix: +0.4%, Nikkei 225: +0.3%) after the news showed that the government changing its view on the economy for the first time over the last 10 months, reducing its expectations for November.