Tadawul Review: 

Tadawul All Share Index (TASI) fell on Wednesday, declining by 25 points (-0.2%) to close at 12,089. TASI started the session negatively, opening with losses of 6 points. However, it then moved into positive territory during the first half hour before gradually declining again until the end of the session. Overall, 11 out of 21 sectors closed in the red zone, while 112 shares fell and 127 rose. Banks (-1.1%), Telecommunications (-1.3%), and Materials  (-0.4%) sectors contributed the most to the index fall. Stockwise, Al Rajhi Bank (-1.1%), Bank AlBilad (-3.1%), and Saudi Telecom (-1.6%) were the major contributors. The trading activity witnessed an increase in volume by 39% to reach 536mn while the value decreased by -9% to reach SAR7.0bn value traded.

 

 

Market Wrap International:

U.S. stocks pulled back on Wednesday as stronger-than-expected employment data fueled concerns about the speed of future interest rate cuts. The NASDAQ declined by -0.1%, while the S&P 500 rose by 0.2%, and the Dow Jones Industrial Average gained by 0.3%.

European markets ended lower after preliminary data showed a drop in regional economic sentiment for December. The CAC 40 decreased by -0.5%, the DAX fell -0.1%, the Euro STOXX 600 dropped -0.2%, while the FTSE 100 rose by 0.1%.

Asian stocks fell, tracking losses in U.S. markets, as Treasury selloffs deepened on concerns the Fed won't cut rates before July due to inflation, despite strong U.S. jobs and business data. Key indices like the NIKKEI 225 dropped by -0.3%, and the Hang Seng fell by -0.9%. In contrast, the SHCOMP rose by 0.02%, and the KOSPI climbed by 1.2%.