Tadawul Review: 

Tadawul All Share Index (TASI) rose on Thursday, up by +5 points (+0.04%) to close at 12,729 levels. TASI started the session positively, opening with a gain of +1 point and continuing steady until the end of the session. In general, 13 of 21 sectors closed in the green zone, and 126 shares rose while 93 fell. The media (+8.5%), finance and investment (+5.3%), and capital goods (+0.4%) sectors contributed the most to the index rise. The trading activity witnessed an increase in volume and value of 10% and 26%, respectively, to reach 469 million shares and SAR14.4 billion in value traded.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 closed down -0.6%, with seven sectors experiencing declines. The information technology sector had the most significant impact as investors analyzed producer prices and retail sales data to gain insights into the Federal Reserve's rate policy direction. Meanwhile, the Nasdaq composite saw a -1.0% decline, and the Dow Jones fell by -0.5%.

In Europe, the Stoxx Europe 600 index fell by -0.3% and the FTSE 100 declined by -0.2% as the Central Bank plans to lower borrowing costs multiple times. Meanwhile, Germany is facing a real estate crisis, resulting in additional losses and distressed property sales.

 

In Asia, amidst uncertainties surrounding the anticipated timing of Federal Reserve interest rate cuts, the central bank of China is anticipated to keep its key policy rate unchanged. The Hang Seng fell by 1.4%, while the Shanghai Composite Index experienced gains of 0.5%. In Japan, the Nikkei 225 fell by -0.3% while the TOPIX index saw an increase of +0.3%.