Tadawul Review: 

Tadawul All Share Index (TASI) rose on Tuesday’s session, rising by 60 points (+0.5%) to close at the 11,873 level. TASI began the session on a positive note, gaining 15 points initially, and experienced a significant surge during the first hour. It maintained a steady performance throughout the remainder of the session.Overall, 13 out of 20 sectors closed in the green zone, while 119 shares rose and 98 fell. Banks (+0.7%), Materials (0.7%), and Telecom (+1.6%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+0.9%), Alinma Bank (+1.9%), and Saudi Telecom (+1.6%) were the major contributors. The trading activity witnessed an increase in volume and value of +21% and +25%, respectively, to reach 242mn shares and SAR7.5bn in value traded.

 

 

 

Market Wrap International:

In the U.S., trading resumed after the Christmas holiday with The S&P 500 closed higher by +0.4% with all 11 sectors rising amid geopolitical tensions in the Middle East and investor optimism about an imminent interest rate cut by the U.S. Federal Reserve supported oil prices on Tuesday, fueling expectations of increased global economic growth and higher demand for fuel. The Nasdaq Composite rose by +0.5%.

In Europe, Markets remained closed for holidays, and Germany's Hapag-Lloyd is set to make a decision on Wednesday regarding its Red Sea routes after temporarily halting shipments there. Meanwhile, investors were still processing Friday's data which revealed a decline in U.S. prices in November, marking the first drop in over three and a half years and highlighting the resilience of the economy.

In Asia, Japan's benchmarks, Topix (+0.1%) and Nikkei 225 (+0.2%), demonstrated positive performance following a slew of data out on Tuesday showed Japan's jobless rate was unchanged at 2.5% in November from the previous month, while business-to-business service inflation was steady at 2.3% last month. In China, the the Shanghai Composite index saw a decline of -0.7%.