Tadawul Review:

Tadawul All Share Index (TASI) rose for the seventh day on Thursday, gaining 31 points (+0.2%) to close at the 12,374 level. The index opened with a decrease of 14 points from the previous close, then gradually rose during the first hour. After that, it started to decline, but by the middle of the session, it rose again and continued to rise until the close. In general, 13 out of 21 sectors closed in the green zone, and 133 shares rose while 91 fell. Utilities (+3.8%), Media (+2.8%), and Materials (+0.3%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+4.8%), Maaden (+4.0%), and Bank AlBilad (+2.4%) were the major contributors. The trading activity witnessed an increase in volume and value by 91% and 17%, respectively, to reach 574mn shares and SAR8.2bn in value traded.

 

 

 

Market Wrap International: 

U.S. markets showed resilience on Friday, buoyed by tentative inflation data suggesting further rate reductions. Optimism about future growth lifted major indices, with the Nasdaq Composite falling 0.4%, the S&P 500 down 0.1%, while the Dow Jones Industrial Average gained 0.3%.

 

In Europe, a wave of stimulus measures from Beijing drove sectors linked to China to new heights, particularly benefiting luxury companies. The STOXX 600 index closed at a record high, up 0.5%, with the DAX rising 1.2%, the FTSE 100 increasing 0.4%, and the CAC 40 gaining 0.6%.

 

Asian markets rallied on Friday, fueled by optimism surrounding China's stimulus efforts and potential capital injections into major banks. The Hang Seng surged 3.6%, the NIKKEI 225 rose 2.3%, and TOPIX increased 0.7%, while the KOSPI slipped 0.8%.