Tadawul Review:

Tadawul All Share Index (TASI) ended  Tuesday’s  session ‎positively by 81 points (0.7%) at 11,883 levels. TASI started ‎the session positively by gaining 40 points and reached its ‎intraday peak in the first hour of trading. However, the rest ‎of the day saw TASI fluctuate before closing at its final level. ‎In general, 13 out of 20 sectors closed in the green zone, ‎while 103 of 223 shares rose and 106 fell. Banks (+1.2%), ‎Food and beverages (+1.7%), and Materials (+0.3%) sectors ‎contributed the most to the index's +59-point rise. ‎Stockwise, Alinma Bank (+8.5%), Al Rajhi Bank (+1.5%), and ‎ACWA Power (+2.1%) were the major contributors. The ‎trading volume activity decreased by -11% DoD to reach ‎‎243mn shares, while the trading value increased by 7% DoD ‎to reach SAR6.7bn.‎

 

 

Market Wrap International:

The global equity markets moved higher with the earnings ‎season and latest details on the likely stimulus package in ‎China providing the lift. In the U.S, the S&P 500 Index and ‎Nasdaq Composite jumped by 0.3% and 0.6% respectively with ‎the support from tech and materials. The result season in the ‎U.S is likely to go into high gear this week. Investors are also ‎keenly awaiting the FOMC decision due on Wednesday. A ‎‎25bps hike in rate appears to be a foregone conclusion given ‎current yields in the secondary market. However, a major ‎focus area for investors is the future guidance on the likely ‎path to pivot in interest rates.‎

In Europe, the Stoxx Europe 600 Index rose by 0.5%, ‎supported by tech, materials and Consumer. Investors ‎responded to ongoing earnings season and positive updates ‎from China. The country level indices were broadly positive.‎

In Asia, China’s CSI 300 and Hang Seng stole the show with ‎‎2.9% and 4.1% jump. In a major development, the Chinese ‎authorities have expressed commitment to support local ‎consumption and the ailing property sector in order to ‎support economic revival.  Indices in Japan were mixed ahead ‎of the central bank meeting this week. Other major indices in ‎the region broadly moved higher.‎