Tadawul Review:

Tadawul All Share Index (TASI) rose on Wednesday, up by ‎‎+45 points (+0.4%) to close at 12,110 levels. The index ‎opened at almost the same level as its previous close but ‎then displayed fluctuations throughout the session until it ‎closed at the highest point at the end of the session. In ‎general, 9 out of 21 sectors closed in the green zone, and 64 ‎shares rose while 163 fell. Banks (+0.9%), Utilities (+1.8%), ‎and Telecommunications (+0.6%) sectors contributed the ‎most to the index rise. Stockwise, ACWA Power (+2.4%), Al ‎Rajhi Bank (+0.7%), and Saudi National Bank (+1.3%) were ‎the major contributors. The trading activity witnessed an ‎increase in volume and value of 26% and 19%, respectively, to ‎reach 352mn shares and SAR6.4bn in value traded.‎

 

 

 

Market Wrap International: 

US stocks advanced as investors looked forward to a key Fed meeting and major tech earnings. This week is crucial, with the Fed's rate decision, the July jobs report, and earnings from four of the “Magnificent Seven” megacaps on the agenda. The S&P 500 rose by 1.6%, the Nasdaq Composite increased by 2.6%, and the Dow Jones Industrial Average gained 0.2%.

European markets started Wednesday on a positive note, with regional stocks advancing despite the broader financial uncertainties. European equities have shown resilience this week. The CAC 40 climbed by 0.8%, the DAX increased by 0.5%, and the FTSE 100 rose by 1.1%.

Asian stocks saw a mostly positive performance on Wednesday, buoyed by the Bank of Japan's decision to raise its benchmark interest rate. This move, aimed at addressing inflationary pressures, contributed to a boost in investor sentiment across the region. Key indices, including the Hang Seng, which rose by 2%, the TOPIX with a 1.5% increase, and the KOSPI, up by 1.2%, all experienced gains.