Tadawul Review: 

Tadawul All Share Index (TASI) ended the session on Sunday, up by +48 points (+0.4%) to close at the 11,963 level. TASI opened the session on a negative note by -1 point but then started to rise gradually throughout the session to close at its intraday high. In general, 17 out of 20 sectors closed in the green zone, while 161 rose and 57 fell.  Health care equipment and services (+2.8%), Banks (+0.2%), and Telecom (+1.2%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+1.2%), Etihad Etisalat (+3.4%), and Sulaiman Al  Habib (+3.1%) were the major contributors. The trading activity witnessed a decline in volume and value by -34% and -42%, respectively, to reach 238mn shares ‎and SAR4.8bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the unexpected question confronting investors is whether the stock market can sustain its upward momentum, driven by strong U.S. economic data, even if the Federal Reserve implements less monetary policy easing than previously anticipated. The anticipation of the Fed shifting towards rate cuts propelled stocks to new heights at the end of 2023, culminating in the S&P 500 reaching a record high.

In Europe, investors eagerly await the release of Germany's inflation data this Friday. Amidst Germany's economic struggles, Economy Minister Robert Habeck has proposed corporate tax reform as a means to alleviate pressure on companies grappling with various challenges which aim to provide relief to businesses and create a more favorable environment for investors amidst the uncertain economic conditions.

In Asia, , investors closely monitor consumer sentiment indicators to assess the resilience of Japan economic growth with the expectations to rebound in the October-December period, driven by a slight improvement in external demand as investors digest the latest twists in the U.S. rate outlook, China's travails and Japan's solid start to the year.