Tadawul All Share Index (TASI) fell on Tuesday, dropping 78 points (-0.70%) to close at 10,906.44. The index opened 36 points below its previous close, but it recovered some losses before the close; however, it still ended in the red zone. Overall, 21 out of 21 sectors closed in the red zone, and 36 shares rose while 226 fell. Materials (-1.1%), Telecommunications (-1.6%), Energy (-0.5%) sectors contributed the most to the index decline. Stockwise, Aramco (-0.5%), Maaden (-0.8%), ACWA Power (1.2-%) were the major contributors to the index decline. The trading activity witnessed a decrease in volume and value of -23% and -10%, respectively, to reach 189mn shares and SAR 4.0bn in value traded.
Market Wrap International:
U.S. equities ended higher after data-driven sector rotation and sustained buying in growth and cyclical names supported major benchmarks, with broad-based gains outweighing lingering questions about monetary policy and earnings outlooks. Stocks such as technology and consumer discretionary led the advance while bond yields remained relatively steady, underpinning risk sentiment; the S&P 500 rose 0.8%, the Dow Jones Industrial Average climbed 0.8% and the NASDAQ increased 1.0%.
European equities ended mixed as markets absorbed global cues and regional data, with modest strength in consumer and financial stocks offsetting weakness in defensives and exporters; uncertainty around growth headwinds and central bank guidance kept sentiment cautious across the continent. The FTSE 100 edged down 0.04%, the DAX slipped 0.02%, the CAC 40 gained 0.3% and the EURO STOXX 600 rose 0.2%.
Asian markets are trading with divergence across major bourses as export-oriented markets and technology sectors show resilience while Chinese and Hong Kong markets lag amid local macro concerns and risk-off flows. South Korea’s KOSPI has advanced 2.1%, Japan’s Nikkei 225 rose 0.9%, China’s SHCOMP gained 0.9% whereas Hong Kong’s Hang Seng is lower by -1.8%.