Tadawul Review:

Tadawul All Share Index (TASI) fell on Sunday session, dropping by -76 points (-0.6%) to close at 12,555. TASI began the session unchanged and started to decline gradually throughout the session until the end. Overall, 8 out of 20 sectors closed in the red zone, and 132 shares fell while 83 rose. Banks (-1.2%), Materials (-0.5%), and Telecom (-1.1%) sectors contributed the most to the index’s fall. Stockwise, Al Rajhi Bank (-1.5%), SNB (-1.2%), Aramco (-0.5%) were the major contributors. The trading activity witnessed a decline in volume and value of -37% and -37%, respectively, to reach 347mn shares and SAR8.2bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the major indexes continued their four-month winning streak in February, driven by optimism surrounding AI's growth potential and its positive effect on semiconductor companies. However, investors have tempered rate cut expectations from the Federal Reserve, as a stronger-than-expected economy could reignite inflation if monetary policy eases too soon.

In Europe, investors analyzing the data of the inflation which dipped last month, prompting discussions of potential rate cuts as price growth moves closer to the target. The European Central Bank has kept interest rates at record highs since September but is now considering adjustments.

In Asia, Investors' confidence in China's stock market is influenced by the significant decrease in short positions in February, attributed to regulatory measures curbing speculation and enhancing investor trust. Moreover, G20 finance leaders' optimistic global economic outlook further supports Bank of Japan Governor Kazuo Ueda's plan to exit negative interest rates, drawing increased investor interest and confidence.