Tadawul All Share Index (TASI) rose on Sunday, gaining 12 points (+0.11%) to close at 11,121.56. The index opened 7 points above its previous close, but before closing it faced selling pressure, yet remained in the green zone. Overall, 9 out of 21 sectors closed in the green zone, and 122 shares rose while 135 fell. Materials (+0.9%), Real Estate Management & Development (+0.8%), and Telecommunication Services (+0.5%) sectors contributed the most to the index rise. Stockwise, Alrajhi (+0.6%), Maaden (+1.4%), and Sabic (+1.9%) were the major contributors to the index rise. The trading activity witnessed a decrease in volume and value of -35% and -40%, respectively, to reach 217mn shares and SAR 3.6bn in value traded.
Market Wrap International:
U.S. equities ended with a firmer tone as strength in technology and AI-linked shares supported sentiment, while investors balanced ongoing uncertainty around Middle East tensions and elevated oil prices against expectations that major central banks will hold policy steady. Gains were led by semiconductor and large-cap growth names following continued optimism around AI demand and ahead of key earnings releases, helping offset pressure from higher energy costs and cautious positioning.
European markets ended with a more muted performance, as investors remained cautious amid persistent geopolitical uncertainty and higher energy prices, while also positioning ahead of upcoming central bank meetings and regional economic data. Sector performance was mixed, with limited support from technology-linked names tied to the global AI theme, while rate-sensitive sectors and cyclicals saw more restrained moves.
Asian markets are trading with a generally constructive bias, supported by strong momentum in semiconductor and AI-related stocks following upbeat earnings and guidance from major chipmakers, while regional currencies and oil price pressures continue to temper gains. Japanese and South Korean equities led advances on technology strength, while other markets showed a more mixed performance as investors monitored developments in Middle East tensions and upcoming global central bank decisions.