Tadawul Review:

Tadawul All Share Index (TASI) rose on Thursday’s session, rising by 217 points (+1.8%) to close at the 12,145 level. TASI opened the session negatively by -66 points but started to rise gradually during the session to close at its intraday high. Overall, 17 out of 20 sectors closed in the green zone, while 154 shares rose and 62 fell. Banks (+3.4%), Food and beverages (+3.4%), and Real Estate (+2.3%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+3.3%), Saudi National Bank (+6.9%), and Alinma Bank (+3.5%) were the major contributors. The trading activity witnessed a decline in volume and value by -23% and -9%, respectively, to reach 465mn shares ‎and SAR10.0bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 ended the session on a positive note by +0.2%, with 8 out of 11 sectors rising, while the Federal Reserve meeting saw officials engaging in extensive debates about the upcoming shift in U.S. monetary policy. The minutes disclosed mounting concerns about the economy's resilience under current high interest rates and initial discussions on ending the reduction of the balance sheet. Meanwhile, the Nasdaq composite experienced a rise of +0.1%.

In Europe, the Stoxx Europe 600 fell by -0.3% on Friday following the data revealing a continued contraction in euro zone business activity at the end of 2023, primarily influenced by a persistent downturn in the services industry. Meanwhile, the FTSE 100 index closed lower by -0.4% as inflation rose in six economically significant German states in December, pointing to potential challenges in German inflation ahead.

In Asia, investor sentiment was positive following South Korea's government announcement to prioritize livelihood support and risk management, despite lowering the 2024 GDP forecast and raising the inflation projection. The Hang Seng index fell by -0.7%, and the Shanghai Composite index experienced a decline of -0.9%. In Japan, both the TOPIX and Nikkei 225 indices ended on a high note, with gains of +0.6% and +0.3%, respectively.