Tadawul Review:

Tadawul All Share Index (TASI)  fell on Monday session, dropping by -121 points (-1.0%) to close at 12,435. TASI began the session positively but then started to decline gradually throughout the session until the end. Overall, 16 out of 20 sectors closed in the red zone, and 178 shares fell while 43 rose. Banks (-1.4%), Materials (-0.9%), and Telecom (-2.2%) sectors contributed the most to the index’s fall. Stockwise, Al Rajhi Bank (-1.5%), SNB (-3.2%), Aramco (-1.1%) were the major contributors to the index’s fall. The trading activity witnessed an increase in volume and value of +16% and +28%, respectively, to reach 403mn shares and SAR10.5bn in value traded.

 

 

Market Wrap International:

In the U.S., the S&P 500 recorded losses of -0.1% for the day, with 7 out of 11 sectors rising. This was driven by the Utilities sector, which influenced the market by 1.65%. Similarly, the Nasdaq composite also saw a negative trend, closing down by -0.4%. Investors showed caution at the start of a week filled with key job data and Fed Chair Jerome Powell's congressional testimony as oil prices were little changed on Monday following the widely expected extension of voluntary output cuts.

In Europe, the Stoxx Europe 600 index experienced a slight decline of -0.03% on Monday. Investors are waiting for the European Central Bank meeting on Thursday, which is widely expected to maintain interest rates at 4.0%, particularly following the pickup in inflation data. Meanwhile, the FTSE 100 also fell by -0.5%.

In Asia, Japan's potential end to deflation and rising prices after decades of economic stagnation sparked positive investor sentiment. In Japan, the Nikkei 225 rose by +0.5% while the TOPIX index fell by -0.1%. Additionally, the Hang Seng and Shanghai Composite Index rose 0.04% and 0.4%, respectively.