Tadawul Review:

Tadawul All Share Index (TASI) ended the session positively ‎on Monday’s session by +65 points (+0.6%) to close at 11,780 ‎levels. TASI opened the session with a slight negative note of ‎‎-2 points and then started to rise gradually throughout the ‎session until the end. In general, 12 out of 20 sectors closed in ‎the green zone, while 122 of 223 shares rose and 92 fell. ‎Banks (+0.9%), Utilities (+2.0%), and Real Estate (+1.5%) ‎sectors contributed the most to the index's +47 point rise. ‎Stockwise, Saudi National Bank (+2.8%), Saudi Awwal Bank ‎‎(+5.3%), and ACWA Power (+3.5%) were the major ‎contributors. The trading volume activity slightly decreased by ‎‎-1% DoD to reach 274mn shares, while the trading value ‎increased by 20% DoD to reach SAR8.1 bn.‎

 

 

Market Wrap International:

The global equity markets were muted on Monday as investors ‎became cautious ahead of FOMC meeting early next week ‎and the start of the result season. The economic data release ‎in China also dragged investors sentiment. the S&P 500 and ‎Nasdaq Composite closed with minor change of 0.4%/0.9%. ‎Banks earnings remained a major focus area as investors ‎looked for insight into the health of economy and consumer ‎spending pattern.‎

In Europe, the trading was affected by the start of the result ‎season and economic data in China. Overall, the Stoxx Europe ‎‎600 Index moved down by 0.6%, dragged by consumer and ‎tech names. Country level indices also registered losses of ‎‎0.2%|1.1%High inflation and low economic growth remained ‎major concerns for investors.‎

In Asia, the trading was affected by typhoon in Hong Kong and ‎national holiday in Japan. The GDP growth in China for 2Q ‎came in below expected and pushed the CSI300 down by ‎‎0.8%. In a surprising move, the Chinese authorities cut down ‎on the loan facility meant to keep liquidity in the system. ‎KOSPI also fell on Monday by 0.4% while other notable indices ‎‎(TAEIX:+0.3%) and SENSEX (+0.8%) moved higher.‎