Tadawul Review:

Tadawul All Share Index (TASI) rose on Tuesday, gaining 48 ‎points (+0.4%) to close at 12,421. The trading session began ‎positively, with an 18-point increase compared to the ‎previous close, and continued to rise until midday. The index ‎then started to gradually decline; despite this, it closed in the ‎green zone. In general, 17 out of 21 sectors ‎closed in the ‎‎green zone, and 131 shares rose while 94 fell. Banks ‎‎(+0.5%), ‎Food and beverages (+3.6%), and Telecommunications ‎‎(+1.6%) ‎sectors contributed the ‎most to the index rise. ‎Stockwise, ‎ Almarai ‎‎(+5.0%), Jabal Omar (+7.5%), and Saudi ‎National Bank (+1.6%) ‎were the major contributors. The ‎trading ‎activity witnessed a decrease in volume of -22% to ‎reach ‎‎355mn while the value increased by 26% to reach ‎SAR9.0bn ‎value traded.‎

 

 

Market Wrap International:

Technology stocks saw a recovery on Tuesday, with Nvidia gaining over 6%, bouncing back from significant losses the previous day after concerns emerged over a new, affordable Chinese AI model challenging U.S. tech giants. The Dow Jones Industrial Average climbed by 0.3%, the S&P 500 advanced by 0.9%, and the NASDAQ rose by 2.0%.

European shares also posted gains on Tuesday, recovering from a global market pullback caused by worries that advancements in China’s tech sector could disrupt the leadership of Western firms. The Euro STOXX 600 rose by 0.4%, and the FTSE 100 advanced by 0.4%, the DAX increased by 0.7%, while the CAC 40 fell by -0.1%.

Hong Kong stocks saw an uptick, following a sharp sell-off in U.S. tech stocks, while several Asia-Pacific markets were closed for the Lunar New Year holiday. The Hang Seng gained by 0.1%, while the NIKKEI 225 fell by -1.4%.