Tadawul Review:

Tadawul All Share Index (TASI) closed positively on Monday  ‎snapping a seven-day losing streak  by 81 (+0.7%) to close at ‎the 11,235 level. TASI opened the session positively, with a ‎gain of 7 points, and faced some fluctuations in the first ‎trading hour. However, TASI gradually rose throughout the ‎rest of the session to close at its intraday high. In general, 18 ‎out of 20 sectors closed in the green zone, while 154 of 223 ‎shares rose and 58 fell. Materials (+1.8%), Banks (+0.5%), and ‎Utilities (+2.3%) sectors contributed the most to the index ‎rise. Stockwise, Al Rajhi Bank (+0.9%), ACWA Power (+3.3%), ‎and Maaden (+4.0%) were the major contributors. The ‎trading activity witnessed an increase in ‎volume and value of ‎‎36% and 33%, respectively, to reach ‎‎232mn shares ‎and ‎SAR6.5bn in value traded.‎

 

 

Market Wrap International:

The U.S. Investors are bracing for consumer price data on ‎Wednesday that could indicate whether the U.S. economy is ‎on track for a so-called soft landing that could allow the Fed to ‎bring down inflation without sharply impacting growth. The ‎S&P 500 edged up 0.7% with 9 ‎out of eleven listed sectors ‎rose while Nasdaq Compiste rose ‎‎1.1%. ‎

In Europe, The Stoxx Europe 600 gained by 0.3% led higher by ‎miners which got a lift from rising metals prices. The FTSE 100 ‎was also up by (0.2%). The country level indices too moved in ‎the ‎same direction and were up 0.4-0.5%. ‎ ‎

In Asia, the stocks made gains as a surge in China's credit data ‎provided a boost to domestic equities. The SHCOMP index ‎ended the day on a positive note by 0.8% while Hang Seng was ‎down by -0.6%. the comments from the Bank of Japan’s. ‎governor pushed up yields, which in turn boosted lenders. ‎Benchmarks in Japan (TOPIX closed on a positive note by ‎‎0.1%. while NIKKEI 225 was down by -0.4%) Other major ‎indices in the region were in the range between (-0.9|0.8).‎ The ‎Yen jumping by the most against the dollar in two months ‎after the head of the Bank of Japan hinted at an eventual shift ‎away from negative interest rates.‎