Tadawul All Share Index (TASI) fell on Wednesday, dropping 58 points (-0.52%) to close at 10,949.27. The index opened 17 points above its previous close, but it recovered some losses before the close; however, it still ended in the red zone. Overall, 10 out of 21 sectors closed in the red zone, and 116 shares rose while 137 fell. Energy (-2.8%), Banks (-0.4%), and Capital Goods (-2.3%) sectors contributed the most to the index decline. Stockwise, Saudi Aramco (-2.8%), Alrajhi (-0.7%), and Sabic (-2.5%) were the major contributors to the index decline. The trading activity witnessed an increase in volume and value of 12% and 33%, respectively, to reach 321mn shares and SAR 6.7bn in value traded.
Market Wrap International:
U.S. equities ended higher as easing oil prices, improving sentiment around Middle East developments, and continued strength in artificial intelligence-linked technology shares supported risk appetite across Wall Street. Semiconductor and large-cap technology stocks led gains after upbeat earnings expectations and resilient corporate spending trends reinforced confidence in the sector, while investors also assessed economic data for signals on the Federal Reserve’s policy path. Broad participation across cyclical sectors added to the positive tone, with materials and technology outperforming during the session. The S&P 500 rose 1.5%, the NASDAQ gained 2.0%, and the Dow Jones Industrial Average advanced 1.2%.
European equities ended higher as lower energy prices and optimism surrounding potential easing in Middle East tensions improved regional risk sentiment, while stronger corporate earnings supported gains across major sectors. Banks, industrials, defense companies, and automobile shares outperformed as investors rotated back into cyclical sectors, although concerns over weaker euro zone economic activity and supply-chain disruptions remained in focus. Healthcare stocks also advanced following positive earnings updates from major companies, helping sustain the broader rally across continental markets. The FTSE 100 rose 2.1%, the DAX gained 2.1%, the CAC 40 advanced 2.9%, and the EURO STOXX 600 increased 2.2%.
Asian markets ended mostly higher as regional equities tracked Wall Street’s technology-led gains and improving global risk appetite, while easing concerns over energy prices supported sentiment across export-oriented sectors. South Korean equities outperformed after strong advances in semiconductor shares and continued momentum in artificial intelligence-related companies lifted investor demand, while Hong Kong and mainland Chinese markets also benefited from improved regional sentiment. Japanese markets were closed during the session. China’s SHCOMP rose 1.2%, Hong Kong’s Hang Seng gained 1.2%, and South Korea’s KOSPI advanced 6.5%, while Japan’s Nikkei 225 remained closed.