Tadawul Review:

Tadawul All Share Index (TASI) fell on Tuesday, down by -25 points (-0.2%) to close at 12,484 levels. TASI began the session with a positive start, opening with a 25 point gain. However, it subsequently experienced a decline during the first trading hour and remained steady for the rest of the session. In general, 17 of 21 sectors closed in the red zone, and 157 shares fell while 71 rose. Materials (-0.5%), Health care equipment and services (-1.7%), and Banks (-0.2%) sectors contributed the most to the index fall. Stockwise, Maaden (-2.2%), Sulaiman Al Habib (-1.2%), and Mouwasat (-3.7%) were the major contributors to the index’s fall. The trading activity witnessed a decline in volume and value of -21% and -5%, respectively, to reach 410mn shares and SAR8.4bn in value traded.

 

 

Market Wrap International:

In the U.S. market, the S&P 500 rose 1.2% as investors closely monitored the quarterly results of major growth stocks, including the "Magnificent Seven." They also took into account the potential consequences of potential U.S. sanctions on Iran's oil exports amid ongoing tensions in the Middle East. The Dow Jones saw a modest 0.7% increase, while the Nasdaq composite recorded a 1.6% rise.

In Europe, the EURO STOXX 600 index rose by 1.1%, and the FTSE 100 gained 0.3% on Tuesday. Optimism was driven by positive indicators such as Germany's return to growth in early April after a contraction period and a strong expansion of business activity across the broader eurozone, reaching its highest level in almost a year.

In Asia, markets followed Wall Street's lead on Tuesday, with Japanese indices TOPIX (+0.1%) and NIKKEI 225 (+0.3%) posting gains. The Japanese yen reached fresh 34-year lows due to a strong dollar. Meanwhile, China's SHCOMP index declined by -0.7%, while Hong Kong's Hang Seng rose by 1.9% following UBS's upgrade of Chinese stocks, citing strong earnings and a focus on shareholder returns.