Tadawul Review: 

Tadawul All Share Index (TASI) fell on sunday, dropping by -40 points (-0.3%) to close at 12,796 levels. TASI began the session positively by 38 points but then started to decline gradually during the session ‎until the end.‎ In general, 14 of 21 sectors closed in the red zone, and 82 shares rose while 136 fell. Banks (-0.3%), Utilities (-1.0%), and Materials (-0.3%) sectors contributed the most to the index’s fall. Stockwise, ACWA Power (-1.7%), Saudi National Bank (-0.9%), and Saudi Awwal Bank (-1.8%) were the major contributors. The trading activity witnessed a decline in volume and value of -8% and -27%, respectively, to reach 340mn shares and SAR 6.6bn in value traded.

 

 

 

Market Wrap International:

In the U.S., after a week of notable advancements propelled by a series of supportive communications from central banks, the prevailing expectation has now shifted towards the likelihood of three interest rate cuts throughout the year attributed to the persistent presence of elevated inflation levels and the unforeseen strength exhibited by the economic data.

In Europe, Investors are closely watching the euro market next week, considering the potential impact of upcoming data releases. This follows a busy week for equities, featuring interest rate holds by the US Federal Reserve and the Bank of England (interpreted as dovish), a rate cut by the Swiss National Bank, and a historic rate hike by the Bank of Japan.

In Asia, as the promises, China must "reinvent itself" to address the property market crisis and boost domestic consumption, while investor confidence in Japan's economic growth rises with signs of deflation coming to an end.