Tadawul Review:

The Tadawul All Share Index (TASI) rose on Sunday’s session, rising by 103 points (+0.8%) to close at the 12.264 level. TASI exhibited a steady rise throughout the session, concluding on a positive note. Overall, 12 out of 20 sectors closed in the green zone, while 132 shares rose and 79 fell. Banks(+2.1%), Materials (+0.8%), and Food and beverages (+1.3%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank(+3.4%), Bank Al-Jazira (+9.2%), and Bank AlBilad (+3.5%) were the major contributors. The trading activity witnessed a decline in volume and value by -18% and -4%, respectively, to reach 261mn shares ‎and SAR7.0bn in value traded.

 

 

 

 

Market Wrap International:

In the U.S., market’s strong start to the year faces a major test next week in a stretch packed with big tech earnings, the Federal Reserve’s monetary policy meeting and the closely-watched employment report. Investors waited anxiously for clues on interest rate policy days ahead of the central bank's closely monitored meeting.

In Europe, as uncertainty persists, nvestors should anticipate a downturn in German consumer sentiment in February, which dims the prospects of economic recovery for the country. Meanwhile, the European Central Bank's actions have prompted investors to increase their expectations of early rate cuts this week.

In Asia, in an effort to stabilize China's stock markets, the securities regulator will fully suspend the lending of restricted shares starting Monday. This decision comes as sluggish demand at home and abroad, along with a deep property slump and deflationary risks, lead to a 2.3% decline in profits for China's industrial firms in 2023. These developments align with market expectations and intensify the pressure on the country's economic growth.