Tadawul Review:

Tadawul All Share Index (TASI) rose for the 12th day on Sunday, up by +17 points (+0.1%) to close at the 12,502 levels. TASI opened the session  with gains of 17 points and continued steady throughout the session until the end. In general, 14 out of 20 sectors closed in the green zone, while 154 shares rose and 65 fell.  Food and beverages (+2.7%), Real Estate (+1.1%), and Materials (+0.3%) sectors contributed the most to the index rise. Stockwise, Saudi Bahri (+5.7%), Savola (+2.8%), and Saudi Nadec (+10.0%) were the major contributors. The trading activity witnessed a decline in volume and value of -15% and -11%, respectively, to reach 386mn shares and SAR9.2bn in value traded.

 

 

 

Market Wrap International:

In the U.S., looking ahead to the upcoming week, investors are approaching with caution following a week of lackluster U.S. economic data. Disappointing figures on inflation and weakening spending have raised concerns about the future direction of interest rate cuts by Federal Reserve policymakers. Investors are waiting for upcoming economic indicators and statements from central bank officials to gauge their sentiment.

In Europe, shares ended the week on a positive note, supported by upbeat earnings updates and the anticipation of rate cuts by the European Central Bank. Investor appetite for risky assets was lifted as they continue to anticipate an April rate cut, rather than June. However, recent data and commentary indicate a more gradual easing cycle than previously expected.

In Asia, despite the recent recession in the economy, investors are closely monitoring the Bank of Japan's plans to end negative interest rates in the coming months. In China, the central bank maintained its key policy rate as anticipated while renewing maturing medium-term loans.