Tadawul Review:

Tadawul All Share Index (TASI) rose for the sixth ‎consecutive day on Wednesday, gaining 550 points ‎‎(+5.1%) to close at 11,426. The index opened 169 points ‎above its previous close, surged over 300 points within ‎the first two minutes, and continued to rise steadily ‎throughout the session. Overall, 21 out of 21 sectors ‎closed in the green zone, and 247 shares rose while 11 ‎fell. Banks (+9.2%), Materials (+3.5%), and ‎Telecommunications (+5.6%) sectors contributed the ‎most to the index rise. Stockwise, Saudi National Bank ‎‎(+10.0%), Alinma Bank (+10.0%), and Etihad Etisalat ‎‎(+9.9%) were the major contributors. The trading ‎activity witnessed an increase in volume and value of ‎‎129% and 180%, respectively, to reach 598mn shares and ‎SAR14.4bn in value traded.‎

 

 

 

Market Wrap International:

U.S. stocks slipped as investors weighed the Fed’s cautious stance after its latest rate cut, with Chair Powell highlighting stretched equity valuations and signaling future policy would remain data-dependent. This kept risk appetite in check, leading to declines across major benchmarks, with the S&P 500 down -0.3%, the Dow Jones off -0.4%, and the Nasdaq lower by -0.3%.

European equities traded narrowly as energy and defensive names provided support, though concerns over inflation, slowing growth, and supply-chain strains capped sentiment. The FTSE 100 added 0.3% and the DAX rose 0.2%, while the CAC fell -0.6% and the Euro Stoxx 600 lost -0.2%.

 

Asian markets showed resilience, supported by signs of Chinese policy backing and renewed inflows into Hong Kong. The SHCOMP advanced 0.8% and the Hang Seng surged 1.4%. Japan’s Nikkei 225 gained 0.3%, while KOSPI fell -0.4%.