Tadawul Review:

Tadawul All Share Index (TASI) rose on Wednesday, up by +109 points (+0.9%) to close at 12,723 levels. TASI started the session positively, opening with a gain of +18 points and continued to rise gradually until the end of the session. In general, 17 of 21 sectors closed in the green zone, and 170 shares rose while 45 fell. Banks (+1.0%), Insurance (+4.3%), and Real Estate (+2.1%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+1.9%), ACWA Power (+2.9%), and Alinma Bank (+1.7%) were the major contributors to the index’s rise. The trading activity witnessed an increase in volume and value of 19% and 36%, respectively, to reach 425mn shares and SAR11.4bn in value traded.

 

 

Market Wrap International:

In the U.S., the S&P 500 closed down -0.2%, with 4 sectors falling. particularly in the information technology sector, which was the biggest contributor. The Nasdaq composite fell by -0.5%, while the Dow Jones increased by 0.1%. Investors maintained confidence in interest rate cuts by the Federal Reserve and other central banks, despite higher-than-expected U.S. inflation.

In Europe, shares touched new record highs fueled by strong corporate updates, particularly in the retail and utility sectors. The Stoxx Europe 600 index rose by 0.2%, and the FTSE 100 soared by 0.3% on Wednesday. Meanwhile, investors eagerly awaited industrial production data for the region.

In Asia, a potential policy shift in japan is being considered by investors, and it could alter Japan's position as the major provider of abundant and inexpensive liquidity, potentially impacting global financial markets. The Hang Seng fell by -0.1%, while the Shanghai Composite Index experienced losses of -0.4%. In Japan, both the Nikkei 225 and TOPIX index saw declines of -0.3%.