Tadawul Review: 

Tadawul All Share Index (TASI) rose on Tuesday, gaining 9 points (+0.1%) to close at 12,113. The trading session began positively, rising by 7 points compared to the previous close, and continued to increase until the middle of the session. It then gradually decreased until the end, but still remained in the green zone. In general, 12 out of 21 sectors closed in the green zone, and 124 shares rose while 110 fell. Telecommunications (+1.8%), Insurance (+2.1%), and Materials (+0.3%) sectors contributed the most to the index rise. Stockwise, Saudi Telecom (+1.8%), Saudi National Bank (+1.1%), and Etihad Etisalat (+2.3%) were the major contributors. The trading activity witnessed a decrease in volume by -4% to reach 384mn shares, while the value increased by 20% to reach SAR7.7bn in value traded.

 

 

Market Wrap International:

Stocks dropped on Tuesday after strong economic data fueled concerns about the likelihood of Federal Reserve rate cuts later this year, causing a rise in Treasury yields. The market was also weighed down by losses in major tech stocks. The NASDAQ fell by -1.9%, the S&P 500 also declined by -1.1, and the Dow Jones Industrial Average dropped by -0.4%.

 

Following inflation data that met expectations, most European shares advanced on Tuesday. The CAC 40 rose by 0.6%, the DAX gained 0.6%, the Euro STOXX 600 climbed 0.3%, while the FTSE 100 slipped by -0.1%.

 

Asian stocks mostly advanced on Tuesday, lifted by a Wall Street rally sparked by tech companies. Key indices like the NIKKEI 225 gained 2.0%, the SHCOMP rose by 0.7%, and the KOSPI climbed by 0.1%. In contrast, the Hang Seng fell by -1.2%.