Tadawul Review:

Tadawul All Share Index (TASI) rose for the ninth consecutive session on Sunday, gaining 68 points (+0.6%) to close at 12,263. The index opened on a positive note, increasing by 67 points from the previous close and continued to rise gradually until the end of the session. Overall, 15 out of 21 sectors closed in the green zone, and 154 shares rose while 72 fell. Telecommunications (+5.9%), Food and beverages (+2.3%), and Materials (+0.6%) sectors contributed the most to the index rise. Stockwise, Saudi Telecom (+9.9%), Aramco (+0.7%), and Savola (+6.2%) were the major contributors. Trading activity witnessed a -8% decrease in volume but a 5% increase in value, reaching 298mn shares and SAR 7.9bn in total value traded.

 

 

Market Wrap International:

Over the past two weeks, U.S. indices have posted solid gains, with the S&P 500 up 2.56% and the Dow Jones rising 2.07% as a weekly average. The NASDAQ led with a 3.15% increase, driven by strong performances.

European indices have displayed varied performance. The FTSE 100 saw an increase of 0.35% as a weekly average, indicating stable conditions in the UK. In contrast, the DAX advanced by 2.70%, reflecting stronger gains in Germany's market. The CAC 40 also performed well, rising by 2.40%, driven by positive trends in France. Looking ahead, a key event to watch is the German GDP (QoQ) report for Q2, scheduled for Tuesday, August 27, 2024, which could further impact market sentiment in Germany.

As a weekly average, Asian indices have had mixed results. The SHCOMP in China fell slightly by -0.09%, while South Korea’s KOSPI rose 1.93%. Japan’s indices saw strong gains, with the Nikkei 225 up 4.10% and the TOPIX increasing 3.37%. Notably, China’s Manufacturing PMI for August, due on Friday, August 30, 2024, could further influence market sentiment.