Tadawul Review:

The Tadawul All Share Index (TASI) fell on Thursday, falling by -75 points (-0.6%) to close at the 12,026 level. TASI started the session negatively, opening with a fall of -8 points, after that, it gradually decreased until the end of the session. Overall, 19 out of 21 sectors closed in the red zone, while 170 shares fell and 54 rose. Banks (-0.7%), Materials (-0.7%), and Utilities (-1.3%) sectors contributed the most to the index fall. Stockwise, Al Rajhi Bank (-1.1%), ACWA Power (-1.2%), and Saudi National Bank (-1.1%) were the major contributors. The trading activity witnessed an increase in volume and value by 7% and 6% respectively to reach 278mn and SAR6.3bn value traded.

 

 

 

Market Wrap International:

 In the U.S, heavyweight stocks that have powered markets higher this year is highlighting Wall Street's vulnerability to any weakness in the Big Tech trade and causing concerns that over-stretched stocks are in for more turbulence. The S&P 500 rose by 1.1%, the Nasdaq Composite declined by 1%, and the Dow Jones Industrial Average saw a 1.6% increase.

European markets experienced varied performance last Friday, influenced by disappointing corporate earnings and exacerbated by a slump in global tech stocks, which dampened investor sentiment. The CAC 40 increased by 1.2%, the DAX went up by 0.6%, and the Euro STOXX index up by 0.8%.

 

Asian markets experienced mixed movements on Friday. The Hang Seng in Hong Kong and South Korea's KOSPI both increased, rising by 0.1% and 0.8% respectively, while Japan's NIKKEI 225 declined by -0.6%. These varied movements reflect a cautious sentiment among investors, influenced by global economic uncertainties and geopolitical tensions.