Tadawul Review: 

Tadawul All Share Index (TASI) rose on Sunday’s session, rising by 71 points (+0.6%) to close at the 11,297 level. TASI opened the session negatively by -2 points but started to rise gradually during the session until the end. Overall, 14 out of 20 sectors closed in the green zone, while 141 shares rose and 69 fell. Banks (+1.6%), Insurance (+1.8%), and Media (+2.6%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+2.8%), Alinma Bank (+1.6%), and Saudi National Bank (+0.7%) were the major contributors. The trading activity witnessed a decline in volume and value of -6% and -19%, respectively, to reach 227mn shares and SAR5.0bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the upcoming Federal Reserve monetary policy meeting and an upcoming U.S. inflation report on Tuesday and Wednesday are expected to challenge a stock market rally after a series of consecutive gains as the expectations of cutting interest rates have fueled more optimism among investors about the future.

In Europe, there has been a rise in investor risk appetite and confidence following positive data from Germany, which indicated a decrease in inflation during November. This data further reinforces the belief that Eurozone interest rates might have reached their highest point.

In Asia, to enhance investor confidence in the stock market, China's securities regulator has introduced draft rules that seek to reduce trading commissions for mutual funds and address conflicts of interest as the household sector in Japan faces mounting challenges. This poses complications for the central bank's efforts to phase out its highly accommodative monetary policy and was further emphasized by the sharp downward revision of the country's economy.