All you need to get ready for the trading week on Tadawul, January 9

All you need to get ready for the trading week on Tadawul, January 9

RIYADH: Saudi Arabia’s stock indexes closed last week lower as worries over the spike in COVID-19 cases rose and the potential lifting of US interest rates spooked investors globally. The main index TASI edged down by 0.2 percent to close the latest session at 11,431 points, while the parallel market Nomu added 1.1 percent to reach 25,618. Nomu’s positive performance was buoyed by its two latest listings of food delivery startup Jahez and Advance International Co., or AICTEC. The slight decline in the TASI came in line with GCC indexes where Dubai’s DFMGI led the fall, down 0.9 percent on Thursday. Bourses of Abu Dhabi, Bahrain, Kuwait registered losses in the range of 0.1 to 0.4 percent, while Qatar’s QSI gained 0.3 percent. Oman’s MSX30 ended flat. Dubai’s main index recovered on Friday while Abu Dhabi’s ADI fell further, shifting their trading week to align with global markets. Last week, Crude prices rose on news that OPEC+ sticked to plans to boost output in February and unrest broke in Kazakhstan, Central Asia’s largest oil producer. Brent crude reached $81.75 per barrel, while US WTI crude oil neared $79 per barrel as of Friday. On Friday, the Saudi Health Ministry confirmed