Tadawul Review: 

Tadawul All Share Index (TASI) rose on Sunday, up by +7 points (+0.1%) to close at 12,352 levels. The trading session began with a positive opening, with a 5-point increase, and the index continued to steadily rise throughout the day until the market closed. In general, 13 out of 21 sectors closed in the green zone, and 120  shares rose while 103 fell. Insurance (+3.2%), Utilities (+1.0%), and Real Estate (+0.7%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+1.7%), Saudi Awwal Bank (+2.1%), and Tawuniya (+6.6%) were the major contributors. The trading activity witnessed a decline in volume by -2% to reach 255 shares while the value increased by 10% to reach SAR6.6bn value traded.

 

 

Market Wrap International:

The S&P 500 experienced a notable boost due to a softer-than-expected employment report by 1.3% which bolstered the case for Federal Reserve rate cuts and demonstrated the resilience of the U.S. economy. Nasdaq composite and Dow Jone rose by 2.0% and 1.2% respectively,

In Europe,The EURO STOXX 600 index surged on Friday by 0.5%, fueled by the technology sector, while banks fell to their lowest levels in over a week, influenced by Societe Generale's gloomy forecast. The FTSE 100, in contrast, climbed 0.5% on the same day.

 

In Asia, the Hang Seng Index in Hong Kong has showcased a remarkable recovery, exhibiting a strong rebound with gains of 1.5%. This impressive resurgence is attributed to indications that the Chinese government is intensifying its initiatives to stimulate economic growth. The Chinese and Japanese indices were closed on Friday session.