Tadawul Review:

Tadawul All Share Index (TASI) rose after three days of ‎losses on Thursday by 38 points (+0.3%) to close at 11405 ‎levels. TASI opened the session on a positive note, up 29 ‎points from the previous close, and continued its upward ‎momentum, hitting the highest point of the day in the middle ‎of the session. Subsequently, TASI then started to decline ‎gradually throughout the remainder of the session until the ‎end. In general, 17 out of 20 sectors closed in the green zone, ‎while 103 of 223 shares rose and 97 fell. Banks (+0.4%), ‎Energy (+0.5%), and Insurance (+0.9%) sectors contributed ‎the most to the index's 21 point rise. Stockwise, Aramco ‎‎(+0.4%), Saudi National Bank (+1.0%), and ACWA Power ‎‎(+1.1%) were the major contributors. The trading volume ‎activity increased by +13% DoD to reach 227mn shares, while ‎the trading value declined by -5% DoD to reach SAR5.0bn.‎

 

 

Market Wrap International:

World stocks eked out gains on Friday as investors, shrugging ‎off bets for a more dovish tone, took comfort from a balanced ‎message from the Federal Reserve that the inflation fight is ‎not over, but it will proceed "carefully" in its next move.. The ‎remarks led U.S. stocks to gyrate between modest gains and ‎losses before jumping higher towards the end of the session. ‎the S&P 500 rose 0.7% with all listed sectors Rose and the ‎Nasdaq Composite  gained 0.9%.‎

In Europe, The euro failed to gain traction after Christine ‎Lagarde said the European Central Bank will set borrowing ‎costs as high as needed and leave them there for as long as it ‎takes to bring inflation back to its goal. European shares The ‎Stoxx 600 also gave up earlier gains to end flat. while FTSE ‎‎100 was up (0.1%). The country-level indices were up in a ‎range between of 0.1%|0.2%. the euro at one point fell to its ‎lowest since mid-June on expectations that the European ‎Central Bank could pause its tightening cycle next month. ‎

In Asia, China remains embedded in US supply chains even as ‎American firms have taken steps to reduce direct imports ‎from the Asian country, according to a paper presented at the ‎Federal Reserve’s conference in Jackson Hole, Wyoming. Asian ‎shares also had a lacklustre performance overnight. Chinese ‎stocks in Hong Kong was down (Hang Seng :-1.4%) and ‎SHCOMP was down too by -0.6%. All the major indices in the ‎region closed on a ‎negative note in a range of -2.1% -0.6%.‎