Tadawul Review:

Tadawul All Share Index (TASI) fell on Wednesday, down by -49 ‎points (-0.4%) to close at 12,346 levels. At the conclusion of ‎April, TASI limited the monthly losses to -7 points, ‎reflecting a (MoM) decline of -0.1% while the (YTD) ‎remained at 3.6%. In general, 11 out of 21 sectors closed in ‎the red zone, and 110 shares rose while 106 fell. Banks ‎‎(-0.7%), Materials (-0.7%), and food and beverages (-1.1%) ‎sectors contributed the most to the index fell. Stockwise, ‎ Alinma Bank (-2.3%), SNB (-0.9%), and ‎Sabic (-0.8%) were the major contributors. The trading ‎activity witnessed a declined in volume and value of -7% ‎and -20%, respectively, to reach 259mn shares and SA6.0bn in ‎value traded.‎‎

 

 

Market Wrap International:

In the US, The S&P 500 experienced a decline by -0.3% and ‎Nasdaq composite was down -0.3% as Amazon reported soaring ‎profits in the first quarter of 2024, continuing its robust ‎earnings trend. However, the Federal Reserve kept rates unchanged on Wednesday, but the central bank maintained its easing basis, downplaying the prospect of rate hikes.

In Europe,  the UK markets were closed for Labor Day, while ‎the Euro Stoxx 600 in Europe fell by -0.1. However, British ‎manufacturing fell back into contraction in April, and cost ‎pressures escalated as investors analyzing the decision of the ‎Fed.‎

In Asia, the China markets were also closed on Wednesday. ‎Meanwhile, in Japan, both the TOPIX and NIKKEI 225 indices ‎experienced declines, with TOPIX down by -0.5% and NIKKEI ‎‎225 down by -0.3%. Notably, Japan's factory activity ‎contracted at a slower pace in April, as the declines in output ‎and new orders showed signs of easing.‎