Tadawul Review: 

Tadawul All Share Index (TASI) rose on Monday, up by +21 points (+0.2%) to close at 12,423 levels. TASI started the session negatively, by -12 points, and continued fluctuating throughout the session until the end. In general, 9 of 21 sectors closed in the green zone, and 105 shares rose while 108 fell. Utilities (+5.2%), Materials (+0.9%), and Real Estate (+2.3%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+7.0%), Sipchem (+5.1%), and Jabal Omar (+3.5%) were the major contributors to the index’s rise. The trading activity witnessed a decline in volume by -27% to reach 247 million, while the value increased by 19% to reach SAR7 billion in value traded.

 

 

 

Market Wrap International:

In the U.S amidst expectations of a June rate cut by the U.S. Federal Reserve, the S&P 500 experienced a 0.2% decline on Monday as the stronger-than-expected manufacturing data that propped up Treasury yields. The Nasdaq composite saw a 0.1% rise, while the Dow Jones fell by -0.6%.

In Europe, markets remained closed on Monday, while crude prices saw a gradual increase of approximately 1%, reaching a five-month high. This upswing in prices was driven by optimistic expectations regarding the rise in oil demand.

In Asia, the Shanghai Composite Index spearheaded a rally across most of the region, recording a 1.2% increase. This surge occurred amidst a generally positive global economic environment. Conversely, the Nikkei 225 and TOPIX index experienced declines of -1.4% and -1.7%, respectively, as the yen remained at levels that raised concerns among traders about potential currency intervention.