Tadawul Review:

Tadawul All Share Index (TASI) fell on Monday’s session by ‎‎52 points (0.5%), closing at 11,494 levels. TASI opened the ‎session negatively, down 13 points from the previous close, ‎and declined more, reaching its intraday low in the first ‎trading hour. However, the index recovered after the initial ‎drop and continued the session with negative fluctuation until ‎the end. In general, 11 out of 20 sectors closed in the red ‎zone, while 124 of 223 shares fell and 85 rose. Banks (-1.1%), ‎Materials (-0.8%), and Health care equipment and services (-‎‎1.2%) sectors contributed the most to the index's 59-point ‎fall. Stockwise, Saudi National Bank (-1.4%), Saudi Fransi (-‎‎3.5%), and Riyad Bank (-2.1%) were the major contributors. ‎The trading activity witnessed an increase in volume and ‎value by 0.3% and 29%, respectively, to reach 232 shares and ‎SAR5.9bn in value traded.‎

 

 

Market Wrap International:

For the global equity markets. debt sustainability is back in the ‎spotlight after Fitch downgraded the U.S. credit rating this ‎month. The yields on 2-10-year tenures rose by ‎‏4.2‏‎-‎‏4.9‏‎ bps. ‎While all the main indices of the US market closed positively, ‎The S&P 500 Index closed the session at 0.6 % with six out of ‎eleven listed sectors dropped. while Nasdaq closed at 1.1%.‎

In Europe, stocks were little changed on Monday, with ‎investor sentiment torn between optimism around a potential ‎peak in US interest rates and further signs of trouble in the ‎Chinese property market. The Stoxx Europe 600 Index was ‎up (0.2%) while FTSE 100 was down (-0.2%). The country-level ‎indices were up in a range between of 0.1%|0.5%.‎

In Asia, The gloom surrounding Chinese equities is deepening ‎after prominent developer Country Garden Holdings’ debt ‎woes worsened and jitters mounted over due to delays in ‎payment of maturing wealth products by a trust company. ‎Plunging credit growth in July is also underscoring the growing ‎deflationary pressure in China. SHCOMP and Hang Seng went ‎down by -0.3% and -1.6%. Equity indices in Japan fell by ‎TOPIX(-1%) | NIKKEI 225 (-1.3%) driven by decreases in the ‎precision instruments, steel, and services sectors, leading to a ‎downturn in share prices. All major indices in the region closed ‎on a negative note except SENSEX in a range of -1.3% |-0.8%.‎