Tadawul Review: 

Tadawul All Share Index (TASI) fell on Monday, dropping by -17 points (-0.1%) to close at 12,110. The index opened 8 points higher than its previous close, then gradually declined until the end of the session, with the lowest point during the session being -26 points. Overall, 16 out of 21 sectors closed in the red zone, while 119 shares fell and 114 rose. Utilities (-0.8%), Media (-2.8%), and Insurance (-0.7%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-0.9%), Maaden (-1.8%), and Saudi Research (-3.4%) were the major contributors. The trading activity witnessed an increase in volume and value of 11% and 35%, respectively, to reach 242mn shares and SAR5.7bn in value traded.

 

 

Market Wrap International:

Markets were mixed on Monday, as Big Tech stocks fell, pressured by climbing bond yields and a stronger dollar, while optimism for rate cuts faded ahead of the upcoming consumer inflation report. The NASDAQ declined by -0.4%, while the S&P 500 rose by 0.2%, and the Dow Jones Industrial Average gained by 0.9%.

Monday saw European stock markets retreat as climbing bond yields and a stronger U.S. dollar triggered a selloff. The downturn came after solid U.S. jobs data heightened speculation that the Federal Reserve would adopt a measured pace on interest rate cuts. The CAC 40 decreased by -0.3%, the DAX fell by -0.4%, the Euro STOXX 600 dropped by -0.6%, and the FTSE 100 slipped by -0.3%.

Markets in Asia saw declines in both stocks and bonds following stronger-than-anticipated U.S. jobs data, with oil gaining due to Russian sanctions. Key indices such as the SHCOMP fell by -0.2%, and the KOSPI dropped by -1.0%, and the Hang Seng fell by -1.0%.