Tadawul Review: 

Tadawul All Share Index (TASI) fell on Tuesday, down by -208 points (-1.64%) to close at 12,500 levels. TASI started the session positively, opening with gains of 14 points but then started to decline gradually until the end. In general, 19 of 21 sectors closed in the red zone, and 186 shares fell while 42 rose. Banks (-2.5%), Materials (-2.1%), and Energy (-1.3%) sectors contributed the most to the index fall. Stockwise, Al Rajhi Bank (-2.9%), Aramco (-1.3%), and SNB (-2.9%) were the major contributors to the index’s fall. The trading activity witnessed an increase in volume and value of 7% and 5%, respectively, to reach 372mn shares and SAR10.2bn in value traded.

 

 

 

Market Wrap International:

The U.S. market experienced a decline, with the S&P 500 falling by -0.2% and the Nasdaq composite dropping by -0.1%. This was influenced by a change in market expectations regarding interest rate cuts. Nevertheless, the expansion of the government debt market is expected to stimulate future trading activities.

 

In Europe, the Euro Stoxx 600 index declined by -1.5% as investors avoided taking risks due to tensions in the Middle East. However, Ericsson saw a significant increase in its stock price following positive earnings results. Additionally, the FTSE 100 index experienced a decline of -1.8%.

In Asia, chinese indices witnessed a -1.6% fall in the SHCOMP, and the Hang Seng index fell by -2.1% as chinese businesses hoarding dollars in anticipation of currency weakness driven by unstable stock markets and weak growth. In Japan, both the TOPIX and NIKKEI 225 indices dropped, with TOPIX down -2.0% and NIKKEI 225 down -1.9%.