Tadawul All Share Index (TASI) fell on Sunday, dropping by -18 points (-0.2%) to close at 11,347. The index opened positively, rising by 38 points from the previous close, then gradually declined until the end of the session. Overall, 11 out of 21 sectors closed in the red zone, while 128 shares fell and 108 rose. Banks (-0.3%), Utilities (-2.8%), and Real Estate (-1.1%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-3.8%), Al Rajhi Bank (-0.5%), and Jabal Omar (-2.8%) were the major contributors. The trading activity witnessed a decrease in volume and value of -20% and -30%, respectively, to reach 159mn shares and SAR3.3bn in value traded.
Market Wrap International:
This week brings a slate of key economic indicators across major markets. In the U.S., April’s Core CPI and headline CPI data will be released on Tuesday, May 13, offering crucial insight into inflation trends, followed by a speech from Fed Chair Jerome Powell on Thursday, May 15. In Europe, Germany’s April CPI is due Wednesday, May 14, while the U.K. will report March GDP and first-quarter GDP figures on Thursday. Meanwhile, Japan will release its Q1 GDP data on the same day, providing an update on the region’s economic trajectory.