Tadawul Review:

Tadawul All Share Index (TASI) fell on Monday, dropping by -22 points (-0.2%) to close at 12,167. TASI began the session positively, opening with a 13-point gain from the previous close, but gradually declined until the end of the session. Overall, 5 out of 21 sectors closed in the red zone, and 116 shares rose while 99 fell. Banks (-1.0%), Real Estate (-1.1%), and Telecommunications (-0.4%) sectors contributed the most to the index fall. Stockwise, Al Rajhi Bank (-1.5%), Jabal Omar (-4.0%), and Saudi National Bank (-0.7%) were the major contributors. The trading activity witnessed an increase in volume and value of 43% and 59%, respectively, to reach 326mn shares and SAR8.8bn in value traded.

 

 

 

Market Wrap International: 

An expanding rally in U.S. stocks is giving investors hope who are concerned about the overemphasis on technology shares, as they look forward to crucial jobs data and the Federal Reserve’s expected interest rate cuts in September. On Monday, the S&P 500, NASDAQ Composite, and Dow Jones Industrial Average were all closed.

European markets ended the session mixed as investors await a possible interest rate reduction by the European Central Bank. The CAC 40 rose by 0.2% and the DAX reported a 0.1% increase, while the Euro STOXX 600 fell by -0.02%.

Asian stock markets declined as evidence grew that China's measures to bolster its struggling economy are still not having the desired effect. Asian markets experienced varied outcomes. The Hang Seng Index decreased by -1.7%, while the Nikkei 225 gained 0.1%. The KOSPI rose by 0.3%, while the Shanghai Composite Index (SHCOMP) dropped by -1.1%.