Tadawul Review:

Tadawul All Share Index (TASI) rose on Tuesday, up by +36 points (+0.3%) to close at 12,470 levels. TASI opened the session on a positive note of +2 points and  continued to rise gradually throughout the session until the end. In general, 16 out of 20 sectors closed in the green zone, and 158  shares rose while 62 fell. Utilities (+4.2%), Energy (+1.4%), and Materials (+0.6%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+5.7%), Aramco (+1.4%), and Riyadh Cables (+4.0%) were the major contributors. The trading activity witnessed a decline in volume and value of -4% and -15%, respectively, to reach 387mn shares and SA8.9bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 recorded a decline of -1.0% for the day, with 8 out of 11 sectors showing losses. The Information Technology sector had a significant impact, driving the market down by -2.19% as Bitcoin reached a near-record high of $68,828. However, the Nasdaq composite closed down by -1.7%, and U.S. stock futures pointed towards a downward trend. The U.S. Federal Reserve's stance on interest rates also influenced market sentiment.

In Europe, the Stoxx Europe 600 index saw a decline of -0.2% on Tuesday as investors exercised caution in anticipation of the upcoming euro zone and U.S. economic data. Meanwhile, the FTSE 100 rose by 0.1%.

 

In Asia, Chinese shares faced mixed performance as pledges by China to transform its economy amid stuttering growth failed to impress investors. The Hang Seng fell by -2.6% while Shanghai Composite Index rose 0.3%. In Japan, the Nikkei 225 fell by -0.03% while the TOPIX index rose by +0.5%.