The Saudi Stock Exchange Index increased today, Tuesday, at Al -Fateh, amid relief in the markets to US President Donald Trump’s tip of the possibility of freezing customs duties on cars, after the decision to suspend the imposition of mutual fees on some consumer electronic devices. The “Tassi” index rose 0.13% to 11613 points, with the price of the “Al -Rajhi Bank” share rose 0.5% to 97.6 Riyals, the “Red World Sea” by 6% to 47.4 Riyals, and “Nice One” by 0.66% to 37.95 Riyals. Ikrami Abdullah, the chief financial analyst in the newspaper “Al -iqtisadiah”, believes that staying above the level of resistance of 11600 points requires major incentives, such as a positive development in the global trade war, but added that the financial results of companies will support the index if they exceed the expectation. In an intervention with the “Al -Sharq” channel, Ikrami said: “In the current period of uncertainty, it is difficult for the market to determine its direction, because it is related to strong news, whether positive or negative, specifically related to the subject of customs duties, as well as the results of the index that will be on top of the index if they are above expected.” He added that one of the things that also affects the market during the current period is the advertising of cash distributions and the expected financial results of companies. Shore International Technology announced before the opening of today’s session the recommendation of the board to distribute cash dividends to shareholders at 1.5 Riyals per share for last year. Satisfaction in global markets continued Asian stocks this morning to rise, led by Japan, as it spoke about temporary releases of customs duties for some sectors- as Trump referred- the hope for the possibility of reaching settlements through negotiation, although repeated policy fluctuations were still concerned by investors. The United States is going forward in its plans to impose customs duties on the import of semiconductors and pharmaceutical products by opening commercial investigations led by the Ministry of Trade. These steps are a prelude to the imposition of customs duties, which threaten to expand the extent of the trade war launched by President Trump. The US shares also ended the last session with the stopwave of sales in the bonds, to restore “Wall Street” in the aftermath of seven sessions of violent trade. The S&P 500 (S&P 500) is about 1%. At the same time, the US Treasury effects ended a five -day loss, a period witnessed by an increase in mortgage returns for ten years in the largest rate in more than two decades. Oil prices stabilized with the anticipation of traders of the possibilities to alleviate the restrictions imposed on Iranian crude exports, to record the ‘Western Texas’ crude oil, a slight change when they are near the $ 61.50 per barrel, and the rough crude oil retains its stability in the $ 65. Day, after the greater reduction by the US Energy Information Administration. Other banks have also lowered their expectations for oil prices, as JP Morgan Chase believes that the price of ‘Brent’ Ru Celg $ 66 this year. In terms of gold prices, the Precious Metal Metal recorded $ 3,211.90 per ounces in immediate transactions at 08:27 in Singapore in Singapore, while the price of silver dropped, while platinum and palsmium remained unchanged.
Saudi shares are open above the most important resistance level in the midst of the calm of the global markets
