Tadawul Review:

The Tadawul All Share Index (TASI) fell for the fifth day of the session on Sunday, falling by -56 points (-0.5%) to close at the 12,060 level. TASI began the session on a negative note, losing -43 points initially, and continued fluctuating throughout the session until the end. Overall, 15 out of 20 sectors closed in the red zone, while 162 shares fell and 59 rose. Banks (-0.4%), Materials (-0.6%), and Utilities (-1.7%) sectors contributed the most to the index fall. Stockwise, Al Rajhi Bank (-0.7%), ACWA Power (-2.3%), and Saudi National Bank (-0.8%) were the major contributors. The trading activity witnessed a decline in volume and value by -19% and -21%, respectively, to reach 336mn shares ‎and SAR5.7bn in value traded.

 

 

 

 

 

Market Wrap International:

In the U.S., optimistic investors are banking on positive upcoming earnings reports and escalating geopolitical tensions to spur a rebound in the struggling market. Additionally, December's unexpectedly favorable U.S. producer price decline suggests that inflation is likely to continue subsiding, potentially paving the way for the Federal Reserve to implement interest rate cuts this year.

In Europe, German dealmakers anticipate a subdued first quarter and a scarcity of fees until 2025 due to incomplete deals and an uncertain economic outlook in Europe's largest economy as the ECB, with a cautious approach, prioritizes price stability and firmly rules out any near-term interest rate cuts to sustain the Eurozone economy.

In Asia, Despite the turbulent economic recovery, China's securities regulator plans to incentivize "countercyclical investment" and promote long-term investment strategies. This provides reassurance for investors. Additionally, Japan's government aims to double budget reserves to 1 trillion yen ($6.9 billion) for earthquake relief in the upcoming fiscal year.