Tadawul Review:

Tadawul All Share Index (TASI) fell on Thursday, dropping 74 points (-0.67%) to close at 10,933.23. The index opened 20 points below its previous close, but it recovered some losses before the close; however, it still ended in the red zone. Overall, 17 out of 21 sectors closed in the red zone, and 66 shares rose while 187 fell. Banks (-0.4%), Energy (-0.8%), and Real Estate Management & Development (-2.9%) sectors contributed the most to the index decline. Stockwise, SNB (-2.1%), Saudi Aramco (-0.8%), and Maaden (-2.5%) were the major contributors to the index decline. The trading activity witnessed a decrease in volume and value of -14% and -15%, respectively, to reach 208mn shares and SAR 4.2bn in value traded.

 

Market Wrap International:  

U.S. equities ended slightly lower as investors continued to rotate out of technology and semiconductor shares amid ongoing questions over artificial intelligence spending, while stronger inflation expectations and the outlook for Federal Reserve policy kept Treasury yields elevated. Lower oil prices provided some support to travel-related companies, but weakness across technology, industrials, and energy sectors outweighed gains in defensive areas. The S&P 500 declined -0.05%, the NASDAQ dropped -0.2%, and the Dow Jones Industrial Average fell -0.1%.

European equities ended lower as technology stocks tracked the global semiconductor selloff and investors locked in profits following recent record highs. Retail shares also came under pressure, while healthcare and other defensive sectors helped limit broader losses as markets assessed the implications of higher global interest-rate expectations. The FTSE 100 declined -0.2%, the DAX dropped -1.3%, the CAC 40 fell -0.6%, and the EURO STOXX 600 declined -0.7%.

Asian markets ended sharply lower as weakness in global technology shares, concerns over artificial intelligence-related valuations, and a stronger U.S. dollar weighed on regional sentiment. Export-oriented technology companies and semiconductor manufacturers led declines, while persistent currency pressures and expectations of tighter global financial conditions added to risk aversion across the region. Japan's Nikkei 225 dropped -4.2%, South Korea's KOSPI declined -5.8%, Hong Kong's Hang Seng fell -1.8%, and China's SHCOMP dropped -2.3%.