Tadawul Review:

Tadawul All Share Index (TASI) fell on Wednesday -0.8%, losing 100 points to close at the 11,927 level. The index opened higher than the previous closing level and started to decline during the session. In general, 17 out of 21 sectors closed in the red zone, and 57 shares rose while 173 fell. The sectors that contributed the most to the index fall were Banks (-1.1%), Materials (-0.7%), and Utilities (-1.3%). Stockwise, Al Rajhi Bank (-2.0%), ACWA Power (-1.6%), and Aramco (-0.4%) were the major contributors. The trading activity witnessed a decreased in volume and value by -35% and -11%, respectively, to reach 628mn shares and SAR7.4bn in value traded.

 

 

Market Wrap International: 

After a brief decline, U.S. equities increased as traders focused on upcoming inflation data to anticipate future interest rate changes from the Federal Reserve. The Dow Jones Industrial Average rose by 1%, the S&P 500 increased by 0.7%, and the Nasdaq Composite climbed by 0.6%.

After a rocky start to the week amid concerns over a slowdown in China's stimulus efforts, sentiment in Europe shifted positively on Tuesday afternoon, leading to gains in European markets. The CAC 40 saw a rise of 0.5%, the DAX increased by 1%, and the FTSE 100 climbed by 0.6%, reflecting renewed investor confidence.

On Wednesday, Asian markets experienced some fluctuations, influenced by recent strong U.S. job market data that has led to heightened expectations for sustained interest rates. Despite this, Japan's stock market showed resilience. Asian markets saw mixed performance, with key indices such as the Hang Seng falling by -1.4%, the NIKKIE 225 increasing by 0.9%, and the SHCOMP down by -6.6%.