The Saudi Stock Exchange jumps to the US -China trade agreement

Saudi stock indicators were executed in green after a collective fly of stocks, and the transactions sigh of news to reach an agreement faster than the expected between the United States and China over a mutual reduction in customs duties, although temporary, in addition to the registration of good financial results for the included companies. The “Tassi” index jumped more than 100 points in once to close 1.25% at 11488 points, after the level of 11500 was tested during the session, driven by the gains of energy and banking sectors mainly, and amid the rise of all leadership shares and the front of “Aramco”. This is accompanied by improving trade values ​​up to 5.8 billion Riyals, compared to only 3.3 billion in the last session. The market gained momentum that was not taken into account of the joint statement issued by Geneva on the reduction of US customs duties on Chinese imports from a total of 145% to 30%, for a period of 90 days, while China would reduce its customs fees on US goods from 125% to 10%. Financial analyst meeting Mansour is of the opinion that the agreement, despite its positive markets; “It cannot be fully reliable or build a long -term investment plan because it is temporary.” Mansour said during an interview with “Al -Sharq”: “During a 90 -day period, it is possible to reach a final agreement or not. Everything is contained during this period. In general, the appetite for risk has returned to the market … and we can see some emerging corrections in the short and medium and not long term.” The shares of Sinom Center are in violation of the trend, “Sinom Center” shares have violated the general trend of the market with a decrease of 0.2%, despite the fact that the company announced the growth of the net profits $ 20% to $ 222.7 million in the first quarter of this year. Ikrami Abdullah, chief financial analyst in the newspaper “Al -iqtisadiah”, said that despite the growth of profits “, but the results are less than expectations in the series of 290 million. Market. “Bloomberg”. attributed until the shares of the company will increase diversity in the governor of investors. The company works in a new sector on the Saudi Stock Exchange, so it’s not strange that there is a big demand for it. This comes after a day that is the initial public offering of the “Medical Company) (SMC), which is 1.9 million Riyals, ($ 500 million), a strong request, which is $ 1.9 million ($ 500 million). Of investors, hours after you opened the door for the participation of investment institutions in the subscription. Listed, the interaction may not be the same as the demand for flying. ‘