Tadawul Review:

Tadawul All Share Index (TASI) rose on Sunday’s session, up by +42 points (+0.4%) to close at 11,219 levels. TASI opened on a positive note with +1 points and continued to increase gradually until the end of the session. Overall, 17out of 20 sectors closed in the green zone, while 147 shares rose and 70 fell. Food and beverages (+2.1%), Banks (+0.2%), and Health care equipment and services (+2.1%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+0.5%), Aramco (+0.5%), and Almarai (+3.1%) were the major contributors. The trading activity witnessed a decline in volume and value of -27% and -45%, respectively, to reach 216mn shares and SAR4.1bn in value traded.

 

 

 

Market Wrap International:

In the U.S., investors find hope in Federal Reserve Chair Jerome Powell's words, despite the central bank's insistence on a prolonged fight against inflation. Signs of easing inflation have sparked speculation of an earlier-than-expected shift towards looser monetary policy by the Fed while the eyes are open to the data of the jobs this week.

 In Europe, after the markets ended the month on a positive note, the market's trajectory is expected to go up more in December, as revised data indicates that Italy's economy expanded by 0.1% in the third quarter, primarily driven by exports and robust consumer spending.

In Asia, investor confidence in China's economy is soaring as recent news highlights the country's firm commitment to implementing favorable fiscal policies and monetary measures with the potential for reducing the reserve requirement ratio will boost market sentiment. On the other hand, in Japan, the Consumer Price Index (CPI) data scheduled to be released on Friday will provide a more comprehensive assessment of the market's outlook for the remainder of the year.