Tadawul Review: 

Tadawul All Share Index (TASI) fell on Wednesday, down by -129 points (-1.0%) to close at 12,355 levels. The session started on a positive note with a 22-point gain, but gradually declined throughout the day until the end. In general, 18 of 21 sectors closed in the red zone, and 187 shares fell while 41 rose. Banks (-0.8%), Materials (-1.5%), and Utilities (-3.2%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-3.4%), SNB (-1.2%), and Alinma Bank (-2.1%) were the major contributors to the index’s fall. The trading activity witnessed a decline in volume by -5.1% to reach 388 shares while the value slightly increased by 0.2% to reach SAR8.5bn value traded.

 

 

Market Wrap International:

In the U.S. market, the S&P 500 remained unchanged as investors analyzed Tesla's missed earnings and eagerly awaited economic data scheduled for later this week, soughting clues regarding the U.S. central bank's interest-rate trajectory. The Dow Jones saw a modest -0.1% decline, while the Nasdaq composite recorded a 0.1% rise.

In Europe, the EURO STOXX 600 index experienced a -0.4% decline, while Euro zone inflation may remain persistent, indicating that a European Central Bank rate cut in June may not automatically lead to additional policy adjustments. Additionally, the FTSE 100 recorded a -0.1% loss on Wednesday.

In Asia, Japanese indices TOPIX (+1.7%) and NIKKEI 225 (+2.4%) gained, but the yen remained near 34-year lows, making traders wary of intervention by Japanese authorities. Meanwhile, China's SHCOMP index declined by +0.8%, while Hong Kong's Hang Seng rose by 2.2%.