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The inaugural IMF and IOSCO conference kicks off todaywith three panels: The International Monetary Fund (IMF) and the International Organization of Securities Commissions (IOSCO) will hold their first joint conference today on the sidelines of the IMF Spring meetings in Washington. Headlined “Stabilizing the future: Managing the nexus between growing capital markets and stability implications,” the conference will deliver high-level discussions on funding market resilience, the rising significance of private funds, as well as cooperation between central banks and securities regulators.
The first panel will look into how to avoid liquidity crunches in various funding markets, including short-term funding markets, corporate bond, and government bond markets. Speakers will include Egyptian Financial Regulatory Authority (FRA) Chairman Mohamed Farid as well as officials from the IMF, Barclays, and Blackrock.
The second panel will explore reasons behind the rise of private funds over the last decade to reach an excess of USD 11 tn. It will untangle risks emerging from the rise of the sector and how policymakers could address such risks to financial stability. Speakers will include the head of the UK Financial Conduct Authority.
One for the regulators: The conference’s high-level policy panel will bring together representatives of central banks and securities regulators to chew over how to regulate a market in which non-banks are increasingly important. Speakers include IOSCO Chairman Jean-Paul Servais, and a top US Treasury Department official.
THE MARKET THIS MORNING-
Major Asian benchmarks are down across the board this morning as traders absorb yesterday’s Iranian missile and drone attack on Israel — itself a response to Israel’s unprecedented attack on Iran’s embassy compound in Damascuts. The Shanghai Composite is taking it in stride, off 0.3% in early trading, while the Hang Seng, Kospi, and Nikkei are all down 1.1-1.3%. US stock futures are up slightly and European futures have edged a bit lower overnight.
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TASI |
12,667 |
-0.3% (YTD: +5.9%) |
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MSCI Tadawul 30 |
1,615 |
-1% (YTD: +4.2%) |
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NomuC |
26,390 |
+0.5% (YTD: 7.6%) |
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USD : SAR (SAMA) |
3.75 Sell |
3.75 Buy |
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Interest rates |
6.5% repo |
5.5% reverse repo |
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EGX30 |
28,504 |
+1.3% (YTD: +14.5%) |
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ADX |
9,237 |
-0.02% (YTD: -3.6%) |
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DFM |
4,244 |
-0.1% (YTD: +4.5%) |
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S&P 500 |
5,123 |
-1.5% (YTD: 7.4%) |
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FTSE 100 |
7,995.6 |
+0.9% (YTD: +3.6%) |
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Euro Stoxx 50 |
4,955 |
-0.2% (YTD: +9.6%) |
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Brent crude |
90.45 |
+0.8% |
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Natural gas (Nymex) |
1.8 |
+0.3% |
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Gold |
2,374 |
+0.1% |
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BTC |
64,121 |
+2.1% (YTD: +53.2%) |
THE CLOSING BELL: TADAWUL-
The TASI fell 0.3% yesterday on turnover of SAR 6.3 bn. The index is up 5.9% YTD.
In the green: Atheeb Telecom (+10%), Acwa Power (+6.7%) and SSP (+6.2%).
In the red: Sipchem (-4.7%), ANB (-4.1%) and SNB (-3.3%).
THE CLOSING BELL: NOMU-
The NomuC rose 0.5% yesterday on turnover of SAR 44.8 mn. The index is up 7.6% YTD.
In the green:Raoom (+19.9%), Paper Home (+9.6%) and AlRashid Industrial (+9.5%).
In the red: AlBabtain Food (-8.6%), Naseeh Tech (-8.3%) and AlMujtama Medical (-7.8%)
CORPORATE ACTIONS-
#1- Tawuniya’s BoD recommended the distribution of a SAR 150 mn dividend for 2023 at SAR 1 per share, it said in a disclosure to Tadawul yesterday.
#2- Gulf Insurance Group’s BoDrecommended the distribution of a SAR 78.8 mn dividend for 2023 at SAR 1.5 per share, it said in a disclosure to Tadawul.
