Tadawul Review: 

Tadawul All Share Index (TASI) fell on Sunday, down by -101 points (-0.8%) to close at 12,255 levels. TASI began the session with a positive start, opening with a 34 point gain. However, it subsequently experienced a decline during the first trading hour Then keep going down until the end of the session. In general, 16 of 21 sectors closed in the red zone, and 201 shares fell while 29 rose. Utilities (-5.4%), Banks (-0.6%), and Insurance (-2.5%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-6.9%), Al Rajhi Bank (-1.4%), and Bank AlBilad (-2.1%) were the major contributors to the index’s fall. The trading activity witnessed a decline in volume and value of -30% and -18%, respectively, to reach 271mn shares and SAR6.9bn in value traded.

 

 

 

Market Wrap International:

In the US market, the S&P 500 experienced a 1.0% increase after Meta, the parent company of Facebook and Instagram, surpassed analysts' expectations, even though its stock price dropped. Traders analyzing future market prospects and interest rates also took into account the latest data on GDP and core prices. The Dow Jones saw a modest 0.4% rise, while the Nasdaq composite recorded a 2.0% increase.

In Europe, stock markets experienced an increase on Friday as traders evaluated the varied earnings reports of prominent companies like Nestle and Deutsche Bank. However, significant merger and acquisition news in the mining sector propelled Britain's FTSE 100 to record an increase of 0.8%.

In Asia, China's SHCOMP index experienced an increase of 1.2%, and Hong Kong's Hang Seng rose by a notable 2.1%. Investors in Japan maintained their optimism due to measures implemented by China's securities regulator to enhance market liquidity. However, Japanese indices TOPIX and NIKKEI 225 saw gains of 0.9% and 0.8%, respectively.