Tadawul Review: 

Tadawul All Share Index (TASI) fell on Thursday, down by -176 points (-1.4%) to close at 12,284 levels. TASI started the session positively, opening with gains of 4 points, but then started to decline gradually to close at its intraday low. . In general, 18 of 21 sectors closed in the red zone, and 184 shares fell while 41 rose. Utilities (-6.1%), Banks (-0.7%), and Materials (-1.7%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-7.4%), Al Rajhi Bank (-1.3%), and Maaden (-2.7%) were the major contributors to the index’s fall. The trading activity witnessed a decline in volume and value of -1% and -11%, respectively, to reach 296mn shares and SAR7.3bn in value traded.

 

 

Market Wrap International:

In the U.S, the S&P 500 index experienced a surge of 0.2%, while the Nasdaq composite slightly declined. The market's recent recovery hit a roadblock as investors processed corporate earnings updates and received cautious statements from Federal Reserve officials. Currently, market participants are eagerly anticipating the Consumer Price Index (CPI) report scheduled for next Wednesday.

 

In Europe, stocks in Europe made gains on Friday, as the FTSE 100 index increased by 0.6% following the Bank of England's decision to maintain interest rates at their 16-year high but indicating an upcoming cut. The EURO STOXX 600‎ closed positively, rising by 0.8%.

 

In Asia, markets witnessed increases as the Hang Seng and SHCOMP Index rose by 2.3% and 0.01% respectively. The proposal to exempt dividend taxes on Hong Kong stocks purchased via Stock Connect affected market sentiment. In Japan, the TOPIX and NIKKEI 225 indices rose by 0.5% and 0.4% respectively, with intervention talks intensifying due to the yen's depreciation.