Tadawul Review:

Tadawul All-Share Index (TASI) fell on Monday’s session by -‎‎60 points (-0.5%) to close at 10,905 levels. TASI opened the ‎session positively, up by 8 points from the previous close. ‎However, the index soon came under selling pressure from ‎investors and started falling for the rest of the trading session ‎hours.‎‏ ‏In general, 13 out of 20 sectors closed in the red zone, ‎while 120 ‎stocks fell and 92 rose. Bank (-1.0%), Materials (-‎‎0.6 %), and Real Estate (-1.2%) sectors contributed the most ‎to the index's fall of -54 points. Stock-wise, AlRajhi Bank (-‎‎1.6%), Riyadh Bank (-2.1%), and Aramco (-0.3%) contributed ‎most to the fall ‎of the index.‎‏ ‏The trading volume activity ‎declined by ‎‏2‏‎% DoD to reach 2‎‏08‏mn shares, while the trading ‎value increased by ‎‏3‏‎% DoD to reach SAR‎‏5.3‏bn. The index is ‎likely to remain range-bound in coming session.  ‎

 

 

Market Wrap International:

Trading in global equity markets was affected by the extended Easter holiday on Monday. The equity benchmarks in the U.S digested the latest negative surprise in job data released during holiday on Friday. Increased geopolitical tension between the U.S and China also weighed on sentiment. The above-expected job additions during Feb negated market’s view about potential end of current interest rate cycle. The surprise has increased the importance of the upcoming CPI/PPI data later this week. The S&P 500 and Nasdaq Composite tanked at the start of the session only to see gradual recovery to pare the initial losses. The treasury yields ticked up further, adding to gains on Friday.

In Europe, most markets were closed for trading on Monday due to the Easter holiday.

In Asia, trading remained suspended in many countries. Markets which were open for trading recorded a second straight session of gains. Tech heavy indices (KOSPI, TAIEX) sustained the rally on the latest announcement from Samsung Electronics to cut chip production. Shanghai Composite (-0.4%) declined on geopolitical tension.