Tadawul Review:

Tadawul All Share Index (TASI) ended the month on a ‎negative note on Thursday and declined by 84 points (-0.7%) ‎to close at 11,491 levels. TASI closed the monthly with 201 ‎points losses (MoM: -1.7%), paring its YTD gains to 9.7%. ‎TASI remained under pressure in the last session and closed ‎at its intraday low. In general, 15 out of 20 sectors closed in ‎the red zone, while 108 of 223 shares fell and 98 rose. Banks ‎‎(-0.6%), Materials (-0.8%), and Utilities (-3.5%) sectors ‎contributed the most to the index fall. Stockwise, ACWA ‎Power (-4.6%), Almarai (-4.7%), and SNB (-1.2%) were the ‎major contributors. The trading activity witnessed a ‎significant increase in volume and value by 68% and 55%, ‎respectively, to reach 307mn shares ‎and SAR8.8bn in value ‎traded.‎

 

 

Market Wrap International:

In the U.S, the S&P 500 ended higher on Friday by 0.2% driven ‎by latest economic data which  reinforced expectations of a ‎pause in interest rate hikes this month. Stock prices of ‎streaming firms tumbled due to a rate dispute between Disney ‎and Charter Communication. Despite losses, the S&P notched ‎its best week since June with 5 out of eleven listed sectors ‎dropped.‎

Investors in Europe are split on their views regarding the ‎European Central Bank's stance on tightening monetary policy ‎before the upcoming policy meeting this month. This comes as ‎recent data revealed that inflation stayed persistently high, ‎surpassing 5% last month.The Stoxx 600 closed flat and FTSE ‎‎100 was up by (0.3%). The country-level indices were down in ‎a range between of -0.7%|-0.3 %..‎

In Asia, The Chinese indices SHCOMP went up by 0.4%.The ‎authorities in China unveiled latest efforts to stimulate its ‎faltering economy by initiating steps to potentially reduce ‎lending rates and cut the amount of funds institutions need to ‎hold in foreign exchange reserves. The equity indices in Japan ‎TOPIX (+0.8%) | NIKKEI 225 (+0.3%). The major indices in the ‎region closed on a positive note in a range of 0.1% |0.9%.‎