Tadawul Review:

Tadawul All Share Index (TASI) rose on Tuesday, up by +70 points (+0.6%) to close at 12,602 levels. TASI opened the session on a negative note of -5 points but started to rise gradually throughout the session until the end. In general, 15 out of 20 sectors closed in the green zone, and 167 shares rose while 52 fell.  Materials (+1.2%), Banks (+0.3%), and Utilities (+1.6%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+1.8%), Aramco (+0.5%), and Al Rajhi Bank (+0.5%) were the major contributors. The trading activity witnessed a decline in volume and value of -1% and -19%, respectively, to reach 462mn shares and SAR7.4bn in value traded.

 

 

Market Wrap International:

In the Global, markets displayed a mixed performance after reaching new highs in recent days, as investors eagerly awaited the release of GDP data and U.S. core prices data. The S&P 500 index experienced a 0.2% increase, with 8 out of 11 sectors registering gains, notably led by Utilities which saw a significant rise of 1.89%. Meanwhile, the Dow Jones fell by -0.2%, while the Nasdaq Composite recorded gains of 0.4%.

In Europe, shares made gains on Tuesday as the Stoxx Europe 600 index rose by 0.2%, while the FTSE 100 saw a slight fall of -0.02%. These increases were primarily driven by a string of positive earnings reports. However, investors and central bankers maintained a cautious stance as they awaited inflation data, which holds the potential to impact decisions related to interest rates.

In Asia, Japanese indices rose as data from Japan revealed a third consecutive monthly slowdown in core consumer inflation for January. Surpassing expectations, this fueled anticipation of potential steps towards ending negative interest rates by April. The TOPIX index increased by 0.2%, and the Nikkei 225 slightly rose by 0.01%. However, the Hang Seng index rose by 0.9%, and the Shanghai Composite Index rose too, by 1.3%.