Tadawul Review: 

Tadawul All Share Index (TASI) fell for the eighth ‎consecutive day on Wednesday, declining by 48 points ‎‎(-0.5%) to close at 10,619. The index opened 18 points ‎below its previous closing level, then rose briefly during ‎the first hour, but gradually declined for the remainder ‎of the session. Overall, 10 out of 21 sectors closed in the ‎red zone, while 110 shares fell and 136 rose. Banks (-‎‎1.2%), Energy (-0.6%), and Utilities (-0.6%) sectors ‎contributed the most to the index fall. Stockwise, Al ‎Rajhi Bank (-1.4%), Aramco (-0.6%), and Saudi National ‎Bank (-1.2%) were the major contributors. The trading ‎activity witnessed a decrease in volume and value of -‎‎22% and -23%, respectively, to reach 168mn shares and ‎SAR3.3bn in value traded.‎

 

 

 

Market Wrap International:

U.S. markets regained footing as a strong rally in tech led by a 9.1% surge in Alphabet following a favorable antitrust ruling and weaker-than‑expected U.S. job openings boosted expectations for imminent Federal Reserve rate cuts, which also lifted bond prices; the S&P 500 gained +0.5%, the Dow Jones slipped -0.1%, and the Nasdaq climbed +1.0%.

In Europe, optimism was underpinned by robust UK services PMI at a 16-month high and easing bond-market stress amid elevated yields; the FTSE 100 rose +0.7%, the DAX +0.5%, the CAC +0.9%, and the Euro STOXX 600 increased +0.7%.

 

In Asia, sentiment diverged while renewed weak U.S. data supported Fed easing hopes, Chinese market jitters and yuan strength weighed on sentiment: the Shanghai Composite fell -1.2%, the Kospi rose +0.4%, the Nikkei 225 declined -0.9%, and the Hang Seng dropped -0.6%.