Tadawul Review: 

Tadawul All Share Index (TASI) fell Tuesday, down by 78 points (-0.7%) to close at the 11,775 level. TASI started the session negatively, opening with a fell of -14 points, and continued volatility during the session, as it closed at the lowest point at the end of the session. In general, 14 out of 21 sectors closed in the red zone, while 80 shares fell and 143 rose. Banks (-1.2%), utilities (-2.1%), and Energy (-0.5%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-2.7%), Al Rajhi Bank (-1.1%), and Aramco (-0.5%) were the major contributors. The trading activity witnessed an increase in volume and value by 33% and 15%, respectively, to reach 494mn shares ‎and SAR11.5bn in value traded.

 

 

 

Market Wrap International:

The U.S. stock market ended Tuesday on a positively note, with the S&P 500 and Nasdaq Composite both increasing by 0.3% and 0.9%, respectively. Investors are eager for hints about potential interest rate cuts by the U.S. central bank. The Consumer Price Index report for May will be released on Wednesday, coinciding with the conclusion of the Fed's two-day policy meeting. It is expected that the central bank will maintain interest rates steady while sharing updated economic and policy projections.

 

In Europe, the Euro Stoxx 600 fell by -0.9% on Tuesday, and ‎the FTSE 100 also experienced a decline of -1.0%. Following ‎the announcement, Philip Lane, the chief economist at the ‎European Central Bank, stated on Tuesday that the pressures ‎are still strong enough for the European Central Bank to ‎implement measures to limit economic growth.‎

 

 

In Asia, Chinese stocks experienced a drop as traders returned from a long weekend, with a series of negative developments dampening market sentiment. The Hang Seng index declined by -1.0%, while the SHCOMP fell by -0.8%. On the other hand, the Japan NIKKEI 225 index saw an increase of +0.2%.