Tadawul Review: 

Tadawul All Share Index (TASI) fell on Sunday, down by -145points (-1.2%) to close at 11,851 levels. TASI started the session with +2 points up but then started to decline gradually until the end. In general, 18 of 21 sectors closed in the red zone, and 166 shares fell while 55 rose. Banks (-1.6%), Materials (-1.7%), and Energy (-1.6%) sectors contributed the most to the index fall. Stockwise, Aramco (-1.7%), Al Rajhi Bank (-1.4%) and SNB (-2.7%) were the major contributors to the index’s fall. The trading activity witnessed a decline in volume and value of -26% and -21%, respectively, to reach 165mn shares and SAR4.4bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 experienced a weekly decline of -0.66%, as investors gear up for crucial GDP reports from the U.S., the eurozone, and Japan, while also looking forward to insights from several Federal Reserve speakers throughout the week.

European banks in Russia face heightened risks, while the United States considers tougher secondary sanctions on banks aiding Russia's war efforts. The European Central Bank plans to lower its record-high interest rates of 4% at the upcoming June meeting.

In Asian markets, the  health of China’s manufacturing sector will also be in the spotlight, while concerns over the demand outlook may continue to weigh on oil prices as Tokyo inflation data due on Friday will be closely watched as markets try to gauge when the Bank of Japan could next raise rates.