Tadawul Review: 

Tadawul All Share Index (TASI) fell on Thursday, dropping 139 points (-1.6%) to close at 11,791. TASI started the session on a negative note, opening 15 points lower than the previous close, and continued to decline gradually throughout the day, closing at its lowest point. Overall, 18 out of 21 sectors closed in the red zone, while 178 shares fell and 52 rose. Banks (-1.3%), Utilities (-3.9%), and Materials (-0.9%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-4.6%), Al Rajhi Bank (-1.4%), and Saudi Awwal Bank (-3.5%) were the major contributors. The trading activity witnessed an increase in volume and value of 38% and 100%, respectively, to reach 503mn shares and SAR11.1bn in value traded.

 

 

Market Wrap International: 

Global markets closed lower on Friday, with investors reacting to Federal Reserve Chair Jerome Powell's comments that the central bank had no fixed timetable for cutting interest rates. The Nasdaq Composite fell by -2.2%, ‎ the S&P 500 dipped by -1.3%, and the Dow Jones Industrial ‎Average slipped by -0.7%. ‎

European markets ended the week in the red, as investor sentiment weakened amid disappointing UK economic growth figures for the third quarter, along with concerns over disappointing earnings, the impact of President-elect Donald Trump’s policies on global economies, and a surge in Treasury yields. The FTSE 100 edged lower by -0.1%, the DAX dropped by -0.3%, the CAC 40 slid by -‎‎0.6%, and the Euro STOXX 600 declined by ‎‎-0.8%.‎

Asian stocks had a mixed session on Friday, as strong Chinese consumption data balanced out apprehension over US interest rate moves, after Jerome Powell indicated a slower approach to rate cuts. The Hang Seng and KOSPI both slipped by -0.1%, while the SHCOMP saw a sharper decline of -1.5%. In contrast, the NIKKEI 225 posted a gain of 0.3%.