Tadawul Review:

Tadawul All Share Index (TASI) rose on Tuesday’s session, rising by 20 points (+0.2%) to close at 11,101 levels. TASI opened the session positively by 6 points but gradually declined before reversing course and ending the session with a profit during the closing auction. Overall, 14 out of 20 sectors closed in the green zone, while 107 shares rose and 102 fell. Health care equipment and services (+2.3%), Banks (+0.2%), and Materials (+0.2%) sectors contributed the most to the index rise. Stockwise, Sulaiman Al Habib (+3.7%), Saudi Awwal Bank (+1.3%), and Maaden (+1.3%) were the major contributors. The trading activity witnessed a decline in volume and value of -8% and -4%, respectively, to reach 207mn shares and SAR4.9bn in value traded.

 

 

Market Wrap International:

In the U.S., stocks fell supported by investors' belief that the Federal Reserve will stop from further interest rate hikes. The S&P 500 closed up by +0.1% with eight of the eleven listed sectors rising , and the Nasdaq Composite also rose by +0.3% as the dollar stayed at its lowest level in three months and bolstered the price of gold, which remained above $2,000 per ounce

In Europe, The spotlight this week will be on consumer inflation data in the eurozone, as it is expected to provide more insight into the trajectory of prices and potential implications for monetary policy. The Stoxx Europe 600 edged down by -0.3%, driven by losses in pharma and consumer goods companies while the FTSE-100 index also saw a decline of -0.1% as Investors await UK mortgage data, seeking crucial insights for market analysis.

In Asia, in China, the Shanghai Index closed up +0.2%, while Hang Seng Index ended on a negative note by -0.1%, after the data showed Hong Kong's private home prices continued to decline, reaching their lowest level since March 2017. The Japanese indices ended on a negative note (Topix: -0.2%, Nikkei 225: -0.1%) with key inflation measure hit a record high of 2.2% in October, strengthening the case for the central bank to reduce monetary stimulus.