Tadawul Review: 

Tadawul All Share Index (TASI) fell on Thursday’s session, falling by -13 points (-0.1%) to close at the 12,162 level. TASI opened 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, while 94 shares fell and 121 rose. Banks (-0.2%), Energy (-0.5%), and Telecom (-0.3%) sectors contributed the most to the index fall. Stockwise, Riyad Bank (-3.8%), Aramco (-0.5%), and Alinma Bank (-1.0%) were the major contributors. The trading activity witnessed an increase in volume and value of +32% and +2%, respectively, to reach 319mn shares and SAR7.2bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 closed down by -0.1% as the dollar edged down after the U.S. Federal Reserve's favored inflation reading showed moderating prices. The Nasdaq composite was also negative by -0.4% as investors are reluctant to reduce their U.S. exposure, pointing to better economic and earnings prospects in 2024.

In Europe, the Stoxx Europe 600 rose +1.1% on Friday as the European Central Bank kept the interest rates unchanged at a record high on Thursday, pushing back on investor bets for aggressive policy easing this spring, despite dismal economic growth and a rapid slowdown in inflation. Meanwhile, the FTSE 100 index closed up by +1.4% after the release of Britain's Composite PMI, which rose to 52.5.

In Asia, the market rose after South Korea exceeded growth expectations in Q4 of 2023, driven by a rebound in exports that offset a decline in domestic demand. The Hang Seng Index experienced a decline -1.6%, while the Shanghai Composite Index saw a 0.1% increase. In Japan, the TOPIX and Nikkei 225 recorded losses of -1.4% and -1.3%, respectively, as investors watched how central bank decisions, including an expected end to negative interest rate.