Tadawul Review:

Tadawul All Share Index (TASI) fell on Wednesday by 132 ‎points (+1.2%) to close at 11,575 levels. TASI opened the ‎session on a positive note, up 21 points from the previous ‎close. And continued to rise throughout the session until the ‎end. In general, 18 out of 20 sectors closed in the green zone, ‎while 173 of 223 shares rose and 35 fell. Banks (+1.0%), ‎Energy (+2.2%), and Materials (+0.7%) sectors contributed ‎the most to the index rise. Stockwise, Aramco (+2.2%), ‎Alinma Bank (+3.5%), and Alinma Bank (+1.1%) were the ‎major contributors. The trading activity witnessed an increase ‎in volume and value by 8% and 5%, respectively, to reach ‎‎182mn shares ‎and SAR5.6bn in value traded.‎

 

 

Market Wrap International:

U.S. labour market data due later this week is set to ‎give clues on the Federal Reserve rate path, The euro steadied ‎against the dollar on Wednesday as rising inflation in Germany ‎and Spain led investors to price in a bigger chance of an ‎European Central Bank hike. In the U.S, The S&P 500 Index ‎closed the session at ‎‏+0.4‏‎% with ‎‏9‏‎ out of eleven listed sectors ‎rose. while Nasdaq closed at +0.5% The yields on 2-10-year ‎tenures fell by 0.2-0.7bps.‎

In Europe, The latest round of price data suggested inflation ‎may not yet be fully on the retreat in the euro region ‎prompted a decline in European bonds and stocks. The Stoxx ‎‎600 was down -0.2%. FTSE 100 was up (0.1%). The country-‎level indices were down in a range between of -0.2%|-0.1 %. ‎The inflation slowed less than expected in Germany and ‎quickened in Spain, offering European Central Bank officials a ‎partial picture of the region’s price pressures as they judge ‎whether to raise interest rates again.‎

In Asia, The stocks climbed for a third day as data from the US ‎to Australia weakened the case for higher interest rates, ‎helping boost risk appetite. The Chinese indices SHCOMP and ‎Hang Seng were by +0.04% and -0.01% respectively. With The ‎latest state-directed measures to shore up growth in china the ‎largest banks in China are preparing to cut interest rates on ‎existing mortgages and deposits. the equity indices in Japan ‎were up TOPIX (+0.4%) | NIKKEI 225 (+0.3%). The major ‎indices in the region closed on a positive note in a range of ‎‎+0.0.2% |+0.6%.‎