Tadawul Review: ‎

Tadawul All Share Index (TASI) fell on Wednesday, ‎dropping 21 points (-0.19%) to close at 11,015.72. The ‎index opened 1 point below its previous close, but it ‎recovered some losses before the close; however, it still ‎ended in the red zone. Overall, 14 out of 21 sectors ‎closed in the red zone, and 89 shares rose while 158 ‎fell. Banks (-0.6%), Capital Goods (-1.1%), and ‎Telecommunication Services (-0.4%) sectors ‎contributed the most to the index decline. Stockwise, ‎Alrajhi (-0.9%), SNB (-1.7%), and STC (-0.9%) were the ‎major contributors to the index decline. The trading ‎activity witnessed an increase in volume and value of ‎‎+11% and +21%, respectively, to reach 182mn shares ‎and SAR 3.9bn in value traded.‎

 

Market Wrap International:  

U.S. equities ended lower as Brent crude moved above $100 a barrel, reviving inflation concerns and putting further pressure on interest-rate expectations, while higher Treasury yields added to the drag on risk assets. Energy was the only S&P 500 sector to advance, while consumer and industrial shares weakened; investors also remained focused on upcoming inflation data and the Federal Reserve’s policy outlook. The S&P 500 declined -0.5%, the Dow Jones Industrial Average fell -0.8%, and the NASDAQ lost -0.6%.

European equities ended lower as the rise in oil prices above $100 a barrel intensified inflation concerns and lifted expectations for further central-bank tightening, with higher government bond yields adding to the pressure on equities. Energy was the only major sector to gain, while autos and other cyclical areas weakened, and investors remained cautious ahead of the European Central Bank’s policy decision and incoming inflation data. The FTSE 100 declined -1.3%, the DAX fell -1.7%, the CAC 40 dropped -1.9%, and the EURO STOXX 600 lost -1.4%.

Asian markets are trading mixed as elevated oil prices, higher U.S. Treasury yields and weaker Wall Street performance weigh on risk appetite, while Chinese equities have found some support from domestic inflation data and South Korean stocks have benefited from continued semiconductor strength. China’s latest inflation figures showed faster consumer and producer-price growth, partly reflecting higher energy costs, while technology and semiconductor demand remained a key support for South Korea. The SHCOMP is up 0.3%, the KOSPI is higher by 1.4%, while the Nikkei 225 and Hang Seng are both down -0.2%.