Tadawul Review:

Tadawul All Share Index (TASI) rose for the 14th day, ‎climbing by +12 points to close at the 12,607 level. At the ‎start of the session, TASI exhibited a positive opening, with ‎an increase of 17 points. However, it subsequently declined, ‎reaching an intraday low before gradually reducing its losses. ‎In general, 11 out of 20 sectors closed in the green zone, ‎while 101 shares rose and  118 fell.  Banks (+0.6%), Telecom ‎‎(+1.7%), and Insurance (+1.1%) sectors contributed the most ‎to the index rise. Stockwise, SNB (+1.8%), Al Rajhi Bank ‎‎(+0.8%), and STC (+2.5%) were the major contributors. The ‎trading activity witnessed a decrease in volume and value by ‎‎-14% and -12%, respectively, to reach 365mn shares and ‎SAR10.3bn in value traded.

 

 

 

Market Wrap International:

In the U.S., investors eagerly await for earnings in NVIDIA, especially after a company became the third-most valuable in the country, underscoring the growing importance of AI-related investments. The S&P 500 index saw a decline of -0.6% with 10 out of 11 sectors falling, with a notable decline  of -1.27% in a specific sector Information Technology. The Dow Jones fell by -0.2% and the Nasdaq Composite fell by -0.9%.

In Europe, stocks fell on Tuesday as investor expectations increased regarding potential interest rate cuts, driven by the prevailing economic conditions. Furthermore, both the Stoxx Europe 600 index and the FTSE 100 witnessed losses of -0.1% despite the signs of an economic upturn in Britain, following the recession observed at the close of the previous year.

In Asia, investors are closely analyzing the impact of China's significant reduction in the benchmark mortgage rate, which aimed to support the struggling property market and broader economy. The Hang Seng rose by 0.6%, and the Shanghai Composite Index rose by 0.4%. In Japan, both TOPIX and the Nikkei 225 experiened losses of -0.3%.

 

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