The Saudi Stock Exchange holds with the assimilation of investors in the federal statements

The Saudi Stock Market began trading without little change today, Monday, with the traders taking up the statements of the Federal Reserve on Monetary Policy, and amid indicators of the decline in the appetite of individual investors for new subscriptions. The “Tassi” index coherent about the 10900 points of moral importance to investors, with the decline in the shares of “Sabic” and “Alinma Bank” in exchange for a slight height of the “Aramco” and “Al -Rajhi Bank”, the largest weight of the index. Majid Al -khaldi, the first financial analyst of the newspaper “Al -iqtisadiah”, believes that Jerome Powell’s tips for a possible reduction in interest rates next month supported the shares of banks and some high debt companies such as “Emar al -Madinah” in the last session. The banking sector index rose 0.2% at the beginning of today’s session. He added during an interview with “Al -Sharq” that “the closure above the 10950 points level is to free the market after it has been trapped in a crossbow over the past few weeks to exceed 11 thousand and maybe 11200 points.” He explained that “these levels have been targeted over the past two or three weeks, but that the market could not reach it because of the decline in the appetite of investors.” The poor morale of individuals in an indication of a relative decline in the appetite of individual investors in the market, the “Marketing House” group announced the coverage of individual investors to subscribe with about 200% with the participation of about 77 thousand investors only in the offer, which, according to Al -Khalidi, attracts a new launch in the market. Last week, the rate of individuals’ coverage of the real estate “Al -Majidiya” shares was 278%. Al -khalidi justified the decline in demand for the proposal for a variety of reasons, including the state of general refuge in the market, the poor performance of the latest four shares listed during their first sessions, as well as the high repetitions of profitability of the new proposals compared to the average market or corresponding businesses. The expected of the petrochemical enterprises improved the basic materials sector, which includes the shares of the petrochemical enterprises, was the most important supporter of the market in the last session, but it is subject to about 0.6% at the beginning of contemporary transactions, but it is still by more than 5% high. Mohamed Al -Farraj, head of the first asset management in “Financing Profits”, said petrochemical companies would specifically benefit from the expected reduction of interest, thanks to improving the economic cycle associated with exporting petrochemicals to China and Europe, which will lead to high demand and profit margins. During an interview with “Al -Sharq”, he expected the sector to achieve better results during the second half of the year, especially after the restructuring of the petrochemical sector in China, which would lead to a shortage of supply and the shares of the sector in the kingdom. “