Tadawul Review:

Tadawul All Share Index (TASI) fell on Tuesday, down by -71 points (-0.6%) to close at 12,585 levels. TASI started the session positively, opening with gains of 3 points but then started to decline gradually to close at its intraday low. In general, 17 of 21 sectors closed in the red zone, and 189 shares fell while 36 rose. Banks (-0.5%), Materials (-0.9%), and Media (-3.1%) sectors contributed the most to the index fall. Stockwise, Al Rajhi Bank (-0.7%), SNB (-1.1%), and Saudi Research (-4.1%) were the major contributors to the index’s fall. The trading activity witnessed an increase in volume and value of 4% and 21%, respectively, to reach 349mn shares and SAR 9.9bn in value traded.

 

 

 

Market Wrap International:

Global markets grappled with uncertainties on Tuesday as conflicting statements from U.S. policymakers and volatility in the Chinese yuan left traders unsettled. This cautious sentiment prevailed ahead of the release of U.S. inflation data on Friday. The S&P 500 showed a -0.3% decline, with eight sectors experiencing losses. Additionally, the Nasdaq composite saw a -0.4% decline, and the Dow Jones fell by -0.1%. 

In Europe, the Stoxx Europe 600 index rose by 0.2%, and the FTSE 100 rose by 0.2% amidst lingering uncertainty about Germany's economic development, impacting German consumer sentiment and its slow recovery in April.

In Asia, investors' belief that a rate hike would be postponed was reinforced by the dovish interpretation of the BOJ's communication. The Hang Seng index rose by 0.9%, and the Shanghai Composite Index experienced a gain of 0.2%. Japanese stock market indices displayed mixed performance, with the Nikkei 225 slightly falling by -0.04% while the TOPIX index rose by 0.1%.