Tadawul Review:

Tadawul All-Share Index (TASI) closed Sunday's session with ‎a slight increase of +5 points (+0.05%) to close at 10,537 ‎levels. TASI opened the session positively and sustained the ‎momentum for the first hour of trading. However, TASI ‎retreated after that, leading to volatile trading hours as it ‎continued trading in a narrow range. The trading activity for ‎Sunday's session was in the range of 63 points. In general, 14 ‎out of 20 sectors closed in the green zone, while 134 stocks ‎rose and 69 fell. Materials (+0.6%), Health care equipment ‎and services (+1.5%), and Utilities (+1.3%) sectors ‎contributed to the stability of the index, while Banks (-0.6%), ‎Food and beverages (-0.5%), and Energy (-0.1%) were a drag ‎on the index. Among stocks, Maaden (+2.2%), ACWA Power ‎‎(+1.9%), and STC (+0.8%) contributed most to the rise of the ‎index. The trading activity witnessed a decline in the volume ‎and value of trading by 38% and 19%, respectively, to reach ‎‎110mn shares and SAR3bn. TASI is likely to continue trading ‎in a narrow range. ‎

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Market Wrap International:

The global equity markets are set to pick up from where they ‎have left off. The week ahead is likely to see the release of ‎important economic data, the Dec-end result season to get ‎into full gear and the latest updates on China’s COVID-19 ‎infection and fresh economic support measures. All in all, ‎barring any major negative surprise, markets are likely to see ‎positive momentum. In the U.S, investors will keenly look for ‎the Dec-22 CPI data (due on Thursday) to further ‎substantiate the view of easing in price pressure. Ahead of the ‎data release, the results of major banks may set the tone for ‎the market.‎

In Europe, investors will closely track the upcoming GDP data ‎in the U.K, and Industrial production data in Germany and the ‎Euro area. The U.K GDP data for the month of Nov-22 will ‎likely reinforce market’s expectation of decline in economic ‎activity for the third straight quarter.‎

In Asia, investors are likely to give more attention to the ‎upcoming CPI data in Japan for Dec-22. Inflation in Japan is ‎projected to inch high to 3.9% in Dec-22 vs 3.8% earlier and ‎will likely keep investors guessing for timing and direction of ‎further monetary policy measures by the Bank of Japan. ‎Monthly export data in China is another important data point ‎for the region which may highlight the impact of global ‎economic slow-down. Besides, markets will also track for ‎possible new economic support measures by Chinese ‎authorities. ‎

 

 

 

 

 

 

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