17 Hrs
Source:
الاقتصادية
TASI rebound reflects internal pressures and banking impacts
The Saudi Stock Market Index "TASI" declined by 0.4% during Thursday's session, closing at 10,590 points. This was supported by the renewed demand for banking, telecommunications, and energy shares, with focus remaining on leading stocks after previous declines. The improvement in performance was driven by a 22 basis point decrease in the three-month "SIBOR" rate to 4.87%, the lowest level in two months, following reduced fears of a US interest rate hike. Despite this rebound, caution remained dominant, as trading volume and value decreased, and the market continued to concentrate on blue-chip stocks. Small-cap stocks underperformed, and negative corporate results further weakened confidence. Therefore, the market continues to react selectively to earnings reports, and a comprehensive shift in trend has not yet been confirmed, as internal pressures and the risks associated with monetary policies still influence overall performance.
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