Tadawul Review: 

Tadawul All Share Index (TASI) rose on Wednesday, up by 22 points (0.2%) to close at 12,608 levels. TASI started the session positively, opening with gains of 14 points but then the index faced buying and selling pressures in the middle of the session and then returned to its positive path at the end of the session. In general, 15 of 21 sectors closed in the green zone, and 153 shares rose while 60 fell. Materials (0.8%), Insurance (1.8%), and Media (3.7%) sectors contributed the most to the index rose. Stockwise, Maaden (3.0%), Saudi Research  (5.7%), and Saudi Awwal Bank (1.0%) were the major contributors to the index’s rose. The trading activity witnessed a decrease in volume and value of -16% and-26%, respectively, to reach 294mn shares and SAR 7.3bn in value traded.

 

 

Market Wrap International:

in the U.S market, the S&P 500 showed an increase of 0.9%, with all sectors experiencing gains as investors awaited data that could offer insights into the timing of interest rate cuts. Additionally, the Nasdaq composite saw a 0.5% increase, and the Dow Jones rose by 1.2%. 

In Europe, the Stoxx Europe 600 index rose by 0.1% and the FTSE 100 rose by 0.01%, while the Bank of England is taking a deeper look at risks from the opaque private equity sector and why valuations of Britain's main banks are "subdued" compared with international peer

In Asia, the Hang Seng index fell by -1.4% and the Shanghai Composite Index fell by -1.3%. In Japan, the Nikkei 225 increased by 0.9%, and the TOPIX index rose by 0.7% as Japan's monetary authorities held an emergency meeting to address the weakening yen, expressing readiness to intervene and prevent disorderly currency movements.