2023-07-16 14:51:47
Most stock markets in the Gulf region closed higher on Sunday, extending their gains from the previous session when slowing inflation in the United States raised expectations that the cycle of US interest rate hikes would stop following this month.
Most of the GCC countries peg their currencies to the dollar and generally follow the Federal Reserve’s interest rate decisions, exposing the region to the direct impact of any move related to US monetary policy.
stock movements
The Saudi market index rose 0.1 percent, supported by the rise of Riyad Bank’s share, 3.1 percent.
Government data showed today that the annual inflation rate in the kingdom slowed to 2.7 percent in June from 2.8 percent in May.
According to data from the Saudi General Authority for Statistics, the prices of housing, water, electricity, gas and other fuels increased by 9.1 percent in general in June on an annual basis, while the costs of restaurants and hotels increased by 4.3 percent and education by three percent.
Outside the Gulf region, the leading index in Egypt closed unchanged.
The Jordanian Stock Exchange ended today’s trading with little change from the previous session amid speculations in most stocks and weak liquidity.
The general stock index closed down by 0.03 percent to 2454.93 points, while the turnover amounted to 3.4 million dinars (4.8 million dollars).
1689519787
#Variation #regions #markets #sessions #week
