The Saudi Stock Exchange is still rising carefully in the midst of interest and fear of the increase

The Saudi Stock Exchange has still recorded limited profits, as investors have been waiting for the quarterly results of companies and developments in the US monetary policy, at a time when the sentiment between the support of an expected interest rate cut and pressure arising from the return of global trade voltages. At the beginning of Wednesday’s trade, the General Index “Tasi” rose, which exceeded the 11,600 points threshold, which he tested more than once during the past few sessions, supported by the rise of leading stocks such as’ Aramco ‘,’ National Bank ‘and’ Acwa Power ‘, which compensated for the decline in’ Sabic ‘shares and the stability of’ Al Raji Bank. Supporting news for shares: “Petro Rabigh” shares jumped around 4%, continued profits for the third session in a row, amid momentum in its trading, as the company announced a change in its ownership structure, which increased the share of Aramco to 60%, compared to the decline of partner Sumitomo Chemical’s share to 15%. Thamer Al-SAEED, investment officer at PLME Capital, believes that the company needs clear leadership to get out of the cycle of obstacle and losses. He added during an intervention with Al-Sharq, “Petro Rabigh needs one leader to introduce the strategy and ensure its implementation. The market seems to be optimistic about this change in ownership structure.” On the other hand, the shares of the urban development of urban developments have risen by almost 3%, after announcing that one of its subsidiaries has signed a contract with the Rosen group worth 462 million Riyals. Adverse factors, chairman of the Federal Reserve, Jerome Powell, have hinted that the US central bank is on the way to implement an extra cut by a quarter percentage point later this month, supporting Asian shares and precious metal prices this morning. On the other hand, the statements of US President Donald Trump have led to increasing fears about the increase in trade, saying he could stop the trade in the cooking oil with China, which could keep Wall Street indices and oil prices. Al-SAEED expected the Federal Reserve to keep interest rates at the next meeting unchanged due to the return of trade tensions, which would affect the US economic data.