Tadawul Review:

Tadawul All Share Index (TASI) fell on Tuesday, dropping 148 points (-1.2%) and broke below the 12,000 level to close at 11,949. TASI started the session negatively, opening 3 points lower than the previous close, and continued to decline gradually throughout the day, closing at its lowest point. Overall, 20 out of 21 sectors closed in the red zone, while 197 shares fell and 36 rose. Banks (-1.4%), Materials (-1.2%), and Energy (-1.3%) sectors contributed the most to the index fall. Stockwise, Aramco (-1.2%), Al Rajhi Bank (-1.3%), and Saudi National Bank (-1.6%) were the major contributors. The trading activity witnessed a decrease in volume by -23% to reach 246mn shares, while the value increased by 0.6% to reach SAR4.8bn in value traded.

 

 

Market Wrap International: 

US stocks declined broadly on Tuesday, with the Dow marking its longest losing streak in 46 years, as it recorded its first nine-day losing streak since 1978. The Dow Jones Industrial dropped -0.6%, the S&P 500 fell -0.4%, and the NASDAQ declined -0.3%.

European markets dropped as central banks take center stage throughout the week. The CAC 40 gained 0.1%. In contrast, the FTSE 100 dropped -0.8%, the broader Euro STOXX 600 declined -0.4%, and the DAX slipped -0.3%.

Asian stocks were down, as markets awaited interest rate announcements from central banks later in the week, while weak economic data from China the previous day eroded investor confidence. The KOSPI dropped -1.3%, the SHCOMP fell -0.7%, the Hang Seng experienced a slight decline of -0.5%, and the NIKKEI 225 slipped -0.2%.