Tadawul Review:

Tadawul All Share Index (TASI) fell on Suanday, falling by 117 points (2.1%) to close at the 11,982 level. TASI started the session negatively, opening with a fall of 64 point, then displayed gradually throughout the session until it closed. Overall, 20 out of 21 sectors closed in the red zone, while 166 shares fell and 61 rose. Banks (-1.5%), Food and beverages (-1.8%), and Energy (-0.9%) sectors contributed the most to the index fall. Stockwise, Al Rajhi Bank (-1.9%), Aramco (-0.9%), and Saudi National Bank (-2.3%) were the major contributors. The trading activity witnessed a decrease in volume and value of -34% and -35% respectively, to reach 401mn shares and SAR5.0bn in value traded.

 

 

 

Market Wrap International: 

As a weekly average, U.S. indices declined: the S&P 500 decreased by -1.66%, the Dow Jones Industrial Average fell by -0.92%, and the NASDAQ dropped by -2.85%. The August Consumer Price Index (CPI) will be released this week on September 11, 2024, which may further influence market sentiment.

As a weekly average, Europe indices also fell: the FTSE 100 dropped by -1.00%, the DAX decreased by -0.80%, the CAC 40 fell by -1.31%, and the EURO STOXX 600 was down by -1.11%. The European Central Bank is anticipated to reduce interest rates on Thursday, signaling a notable development.

 

In Asia, indices experienced declines over the past two weeks: the Shanghai Composite (SHCOMP) was down by -1.79%, the KOSPI fell by -2.74%, the Nikkei 225 dropped by -2.24%, the Hang Seng Index decreased by -1.63%, and the TOPIX fell by -1.03%.