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On January 14th, the three major A-share indices rose and then fell back. At the close, the Shanghai Composite Index fell 0.31% to 4126.09 points; the Shenzhen Component Index rose 0.56%; and the ChiNext Index rose 0.82%. Market turnover approached 4 trillion yuan, with more than half of the stocks rising. After the midday close, the Shanghai and Shenzhen Stock Exchanges issued a notice adjusting the margin ratio for newly opened margin contracts from 80% to 100%. The Shanghai Composite Index quickly plunged into negative territory in the afternoon, falling as low as 0.85% to 4103.62 points. Tian Lihui, Dean of the Institute of Financial Development at Nankai University, stated that the adjustment of margin policies, coupled with efficient regulation of popular concept stocks, indicates that a "combination punch" of A-share regulation has been implemented. Policy adjustments aim to "cool down" the market, not "extinguish" it; the market will place greater emphasis on fundamentals and compliance in the future. Short-term fluctuations are inevitable, but the "slow bull" and "long bull" pattern is gradually being solidified. Investors need to abandon short-term speculative thinking, navigate market fluctuations with rationality and patience, and share in the dividends of Chinas high-quality economic development.European Commission Executive Vice-President Dombrovskis: Work is underway to make up for Ukraines funding shortfall in the first quarter.Russian Foreign Minister Lavrov: Russia is committed to fulfilling its agreement with Venezuela.Russian Foreign Minister Lavrov: The United States is working to undermine a system that Washington helped build, not just the UN framework.European Commission President Ursula von der Leyen: The first tranche of the €90 billion will be disbursed to Ukraine in April.

At The Close of Trade, Saudi Arabian Stocks Are up 0.18 Percent

Aria Thomas

Dec 26, 2022 14:34

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Sunday's market closing in Saudi Arabia was followed by increases in the Media & Publishing, Insurance, and Petrochemicals industries.


At Saudi Arabia's market close, the Tadawul All Share rose 0.18 percent.


Al Sagr Co-operative Insurance Co (TADAWUL:8180) had the strongest performance on the Tadawul All Share, gaining 10.00% or 1.24 points to conclude the day at 13.64. Amana Cooperative Insurance Co (TADAWUL:8310) gained 7.33 percent, or 0.66 points, to close at 9.66, while Wataniya Insurance Company (TADAWUL:8300) rose 5.07 percent, or 0.68 points, to 13.68 in late trading.


Al Yamamah Steel Industries Co (TADAWUL:1304) had the lowest performance throughout the session, declining 6.40 percent, or 1.56 points, to close at 22.82. Saudi Arabian Cooperative Insurance (TADAWUL:8100) fell 5.38 percent, or 0.70 points, to close at 12.30, but Perfect Presentation for Commercial Services Company PJSC (TADAWUL:7204) fell 4.17 percent, or 7.40 points, to 170.00.


On the Saudi Arabia Stock Exchange, declining equities outweighed gaining ones by 141 to 98, with 14 ending unchanged.


Al Yamamah Steel Industries Co (TADAWUL:1304) shares reached 52-week lows, declining 6.40%, or 1.56 points, to close at 22.82.


The price of crude oil for February delivery increased by 2.40 percent, or 1.86 dollars, to $79.35 a barrel. Brent oil for March delivery was steady, trading at $84.50 per barrel, while the February Gold Futures contract increased 0.60 percent, or 10.70 cents, to trade at $1,806.00 per troy ounce.


EUR/SAR increased 0.18 percent to 3.99, while USD/SAR remained constant at 3.76.


The US Dollar Index Futures fell 0.08 percent to 104.04.


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