Saudi Gazette report

RIYADH — The Saudi Stock Exchange (Tadawul) index opened trading on Thursday with a four percent increase, rising more than 400 points above the 11,500-point level, with trading valued at nearly SR1 billion.

The rises were led by ADES Holding, ACWA Power, Riyadh Development, and Al Baha Investment and Development, with the index hitting its highest level of the day at 11,605 points, with gains exceeding 500 points at a time. Shares of two Tadawul-listed companies hit their highest levels in 52 weeks. Shares of Zamil Industrial recorded 69 percent while stocks of Dar Al Arkan jumped 59 percent.

This came after US President Donald Trump suspended the implementation of high tariffs for 90 days on dozens of countries, while maintaining a lower base tariff. However, he announced a new increase in tariffs on China, reaching 125 percent.

Oil prices saw a significant increase on Wednesday, with Brent crude rising four percent to $65.3 a barrel.