Tadawul Review: 

The Tadawul All Share Index (TASI) fell on Thursday’s session ‎by -19 points, closing at 11,708 levels. TASI opened the ‎session posativly by 13 points then started to decline ‎gradually till the end of the session. In general, 15 out of 20 ‎sectors closed in the red zone, while 148 of 223 stocks fell ‎and 69 rose. Banks (-0.3%), Food and beverages (-0.7%), and ‎Health care equipment and services (-0.5%) sectors ‎contributed the most to the index's (-17 points) fall. Stock-‎wise, Al Rajhi Bank (-0.7%), Saudi Fransi (-1.5%), and Savola ‎‎(-2.8%) were the major contributors. The trading activity ‎witnessed a decline in volume and value of -8% and -0.1%, ‎respectively, to reach 410mn shares and SAR7.7bn in value ‎traded.‎

 

 

Market Wrap International:

The global equity markets closed a very productive week on a ‎rather muted note with economic data and sentiment around ‎change in economic policy changes being the key driver of ‎market’s movement. The earnings season is also starting to ‎come into full swing. In the U.S, the data on consumer ‎sentiment and short-term price expectations came in higher ‎than expected and have had a knock-on impact on both the ‎treasury yields and equity markets. The yields on 2-10-year ‎tenures rose by 7-14bps, recovering the most of decline in the ‎wake of positive CPI/PPI data earlier in the week. The S&P ‎‎500 and Nasdaq Composite closed lower by marginal 0.1% and ‎‎0.2%.‎

In Europe, the key indices moved in a narrow range of -0.2 to ‎‎+0.1%. The regional benchmark, the Stoxx Europe 600 Index ‎too, was little changed on Friday (-0.1%). Investors are waiting ‎for the result season to get in full swing to assess the impact of ‎slowdown in economic activity on the corporate earnings.‎

In Asia, the equity indices in Japan continue showing weakness ‎with investors doubting the continuation of current ultra loose ‎monetary policy. Topix fell by 0.2% while Nikkei closed with ‎‎0.1% losses. In China, investors remained optimistic over fresh ‎measures to stimulate economic activity. Indices in Hong Kong ‎‎(Hang Seng: +0.3%) and China (CSI 300: +0.02%) recorded ‎gains. Taiwan and Korea remained a major outperformer in ‎the region (TAIEX:+1.3%, KOSPI:+1.4%) over optimism on ‎earnings season. India’s Sensex also delivered a positive return ‎of 0.8%.‎