According to Jinshi, Saudi stocks are set to enter a bull market as optimism about the Federal Reserve's rate cuts outweighs the impact of falling oil prices. Saudi Arabia's benchmark stock index, the Saudi Stock Exchange Composite Index (TASI), rose 0.4% on Sunday, up just over 20% since its March low. The fourth-quarter gains were largely due to growing optimism that the Federal Reserve will turn to rate cuts in 2024. A fund manager survey by Saudi asset management company SNB Capital showed that investors were optimistic about the outlook in the fourth quarter, with bearish sentiment falling to a record low. Respondents still expect oil prices, interest rates and inflation to be the main market drivers.