Tadawul Review: 

The Tadawul All Share Index (TASI) dropped on Wednesday, falling by 145 points (-1.2%) to close at 11,591. The index initially opened slightly higher, rising by 6 points from the previous close, before gradually declining throughout the session. Overall, 17 out of 21 sectors closed in the red zone, while 168 shares fell and 65 rose. Banks (-1.9%), Materials (-1.3%), and Utilities (-3.0%) sectors contributed the most to the index fall. Stockwise, Al Rajhi Bank (-1.9%), ACWA Power (-3.7%), and Saudi National Bank (-2.4%) were the major contributors. The trading activity witnessed an increase in volume and value of 79% and 17%, respectively, to reach 649mn shares and SAR6.0bn in value traded.

 

 

Market Wrap International: 

On Wednesday, U.S. stock index futures lost ground as investors kept an eye on key economic indicators, with an important inflation report expected to affect the Federal Reserve’s future monetary policy direction. The Nasdaq Composite slipped by -0.6%, the S&P 500 edged lower by -0.4%, and the Dow Jones Industrial Average fell by -0.3%.

As President-elect Donald Trump’s tariff hike proposals continued to be analyzed, European markets saw declines on Wednesday. The FTSE 100 climbed by 0.2%. On the other hand, the DAX and the Euro STOXX 600 dropped by -0.2%, and the CAC 40 slid by -0.7%.

Asian stocks largely fell on Wednesday, with market attention directed at upcoming U.S. economic data to gauge potential interest rate changes, while Chinese markets advanced in spite of increasing concerns about U.S. trade tariffs. The Hang Seng and SHCOMP both gained by 2.3% and 1.5%, respectively. In contrast, the NIKKEI 225 experienced a decline of -0.8%, and the KOSPI posted a loss of -0.7%.