Tadawul All Share Index (TASI) fell slightly on Wednesday, closing at the 11,532 level. TASI started the session negatively, opening with a drop of 3 points. It then began to rise gradually before the middle of the session but fell again before the end of the session, closing with a very slight difference from the previous close. Overall, 10 out of 21 sectors closed in the red zone, while 101 shares fell and 134 rose. Telecommunications (-4.5%), Banks (-0.2%), and Real Estate (-1.5%) sectors contributed the most to the index fall. Stock wise, Riyad Bank (-3.2%), and Etihad Etisalat (-3.5%), and Saudi Awwal Bank (-1.7%), were the major contributors. The trading activity witnessed an increase in volume and value of 15% and 12%, respectively, to reach 272mn shares and SAR6bn in value traded.
Market Wrap International:
U.S. stocks ended mostly higher on Wednesday, with the Nasdaq Composite notching its sixth straight gain, led by strong performances from major technology names. The S&P 500 posted a modest advance as investors weighed optimism around potential trade deals against mixed signals on economic resilience. Semiconductors & Semiconductor Equipment surged 1.51%, Communication Services climbed 1.58%, and Information Technology gained 0.96%. The Nasdaq climbed by 0.7% and the S&P 500 rose by 0.1%, while the Dow Jones Industrial Average fell by -0.2%.
Major European stock markets ended slightly lower in cautious trading, as softer-than-expected U.S. inflation data led investors to scale back expectations for Federal Reserve rate cuts this year. The Europe STOXX 600 declined by -0.2%, DAX fell -0.5%, CAC 40 dropped -0.5%, and FTSE 100 decreased -0.2%.
Asia-Pacific markets were mostly higher, lifted by easing trade tensions between the U.S. and China. Investors found some relief after the two economic giants agreed to a 90-day pause in their tariff dispute, fueling optimism for continued negotiations and reducing immediate pressure on global growth. The SHCOMP advanced by 0.9%, KOSPI gained by 1.2%, and the Hang Seng climbed by 2.3%, while the Nikkei 225 fell by -0.1%.