Tadawul Review:

The Tadawul All Share Index (TASI) rose on Wednesday, gaining 37 points (0.3%) to close at the 12,039 level. The session began 5 points higher than the previous close, but the index initially struggled, dipping 14 points before regaining positive momentum by the end of the day. Overall, 14 out of 21 sectors closed in the green, with 97 shares declining and 129 rising. The Materials (+0.9%), Utilities (+1.3%), and Insurance (+1.3%) sectors made the most significant contributions to the index's increase. Notable stock performers included ACWA Power (+1.6%), Maaden (+4.5%), and Saudi National Bank (+0.6%). Trading activity saw a substantial rise in volume, increasing by 280%, while the value traded decreased by 1%, reaching 1.6 billion shares and SAR 7.2 billion, respectively.

 

 

 

Market Wrap International: 

On Wednesday, the major indexes experienced a notable increase, supported by substantial gains in banking stocks and a recovery in Nvidia shares, which helped the market recover from recent downturns. U.S. stocks surged toward record levels as investors digested a series of earnings reports, notably from Morgan Stanley. The Dow Jones Industrial Average climbed by 0.8%, the S&P 500 rose 0.5%, and the Nasdaq Composite experienced an uptick of 0.3%.

European stocks dropped as weak earnings from the luxury sector fueled worries about the semiconductor industry's profit outlook. Additionally, the pound fell after UK inflation declined, prompting increased speculation about potential interest-rate cuts. On Wednesday, overall market sentiment took a downturn, leading to declines in European markets. The CAC 40 decreased by -0.4% and the DAX slipped -0.3%, while the FTSE 100 stood out with a gain of 1%.

 

Following a poor sales prediction for 2025 from industry leader ASML, Asian chipmaking stocks fell on Wednesday. The next earnings report from Taiwan's TSMC is currently the focus of attention. Asian markets struggled, with the Hang Seng falling -0.2%, the Nikkei 225 declining by -1.8%, and the KOSPI slipping -0.9%.