Tadawul Review: 

The Tadawul All Share Index (TASI) rose on Sunday’s session, rising by 45 points (+0.4%) to close at the 12.004 level. TASI exhibited fluctuations and steady throughout the session, concluding on a positive note. Overall, 14 out of 20 sectors closed in the green zone, while 126 shares rose and 95 fell. Materials (+1.3%), Banks (+0.1%), and Health care equipment and services (+1.1%) sectors contributed the most to the index rise. Stockwise, Maaden (+5.9%), Aramco (+0.3%), and Alinma Bank (+1.3%) were the major contributors. The trading activity witnessed a decline in volume and value by -30% and -32%, respectively, to reach 278mn shares ‎and SAR6.6bn in value traded.

 

 

Market Wrap International:

In the U.S., Hopes for lower interest rates and resilient growth in 2024 are bolstering expectations in market.The recent market high indicates the positive sentiment. Despite real estate stocks lagging behind the broader market, the anticipation of an economic soft landing is fostering optimism for the sector in 2024.

In Europe, investors have moderated their expectations regarding major central banks' plans to lower borrowing costs this year. The focus has now shifted to the upcoming policy meeting of the European Central Bank (ECB) on January 25, where it is widely anticipated that the central bank will maintain steady interest rates.

In Asia, The market is closely observing the situation as core consumer inflation in Japan's capital, Tokyo, is projected to fall below 2% for the first time since May 2022. Meanwhile, there is a widespread expectation that China will keep lending benchmark rates unchanged during the upcoming monthly fixing, following the central bank's surprising decision to hold a key policy rate steady.