Tadawul Review:

Tadawul All Share Index (TASI) rose on Wednesday, gaining 75 points to close at the 12,344 level. TASI opened 1.5 points higher than the previous closing level, with further volatility in the morning due to buying and selling pressures. The rate gradually increased, reaching 0.61% with a 39-point increase in the final auction. Which is the day's highest point. In general, 17 out of 21 sectors closed in the green zone, and 136 shares rose while 83 fell. Utilities (+2.7%), Materials (+0.6%), and Banks (+0.2%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+3.4%), Al Rajhi Bank (+0.9%), and Aramco (+0.7%) were the major contributors. The trading activity witnessed a decrease in volume and value by -28% and -5%, respectively, to reach 300mn shares and SAR7.0bn in value traded.

 

 

 

Market Wrap International: 

Following the S&P 500's 41st record close of the year, US stock futures slightly declined. Bonds and the US dollar remained stable. The Dow Jones Industrial Average dropped by -0.7%, the S&P 500 decreased by -0.2%, and the Nasdaq Composite increased by 0.04%.

European markets displayed mixed results, reflecting the effects of Beijing's recent policies aimed at revitalizing the housing market. The DAX dropped by -0.4%, the FTSE 100 dropped by -0.2%, and the CAC 40 sank by -0.5%.

 

Wednesday saw gains maintained in Hong Kong and Shanghai as China, the day before, unveiled a set of policies aimed at bolstering the faltering national economy, announcing another reduction in interest rates. Asian markets saw a range of results, with the Hang Seng rising by 0.7%, the NIKKEI 225 falling by -0.2%, and the KOSPI falling by -1.3%.