Tadawul Review:

Tadawul All-Share Index (TASI) closed Sunday's session up ‎‎+43 points (+0.4%) to close at 10,725 levels. TASI opened the ‎session positively, up +35 points from the previous close, but ‎quickly fell back to complete the first half of trading hours in ‎a volatile manner within the range of 24 points. However, ‎TASI started to build its positive momentum in the second ‎half of the trading hours, reaching its intraday high at the end ‎of the regular trading hour, realizing +66 points from the ‎previous close. At the closing auction, TASI fell 19 points, ‎trimming some of its gains for the day. In general, 14 out of ‎‎20 sectors closed in the green zone, while 140 stocks rose ‎and 64 fell. Banks (+0.5%), Materials (+0.6%), and Energy ‎‎(+0.7%) sectors contributed the most to the index's rise of ‎‎+33 points. Stock-wise, Aramco (+0.8%), Al Rajhi Bank ‎‎(+0.5%), and Riyad Bank (+1.9%) contributed most to the rise ‎of the index. The trading activity witnessed a decline in the ‎volume and value of trading by 3% and 11%, respectively, to ‎reach 98mn shares and SAR3.1bn.‎

 

 

 

Market Wrap International:

The Dec-end result season is set to enter in full swing next ‎week and along with the economic data on growth and ‎inflation, will emerge as a key driver for the global markets. By ‎and large, investors expect better than expected results, ‎particularly in Europe given the flash estimate of economic ‎activity for Nov-22 and the drop in energy prices in the region. ‎In the U.S, the market will pick up from where they left off ‎and my look to build momentum based on earnings season. ‎Monthly flash estimate for PMI for Jan-23 and Personal ‎Consumption Expenditure data are the two important ‎economic data points for the market to track for the next ‎week.‎

In Europe, the region appears to have passed the peak winter ‎season without any major energy supply disruption. Economic ‎data released last week points to easing of inflationary ‎pressure. Overall, corporate results may hold up well. That ‎said, performance of the major indices in Jan-23 and the latest ‎statement by the ECB official showing commitment to further ‎rate hike may keep the excitement in check.‎

In Asia, the region will lack any major economic data or news ‎flow from China markets as markets in China and Hong Kong ‎will be closed for trading for the whole or most part of the ‎week. CPI data in Japan (Tokyo CPI), and central banks’ ‎policy decisions in other economies are the important events ‎for the next week.  ‎‎‎