Tadawul Review:

Tadawul All Share Index (TASI) fell on Thursday, down by -161points (-1.3%) to close at 11,996 levels. TASI started the session negatively, opening with fell of -4 points and continued to decline gradually to close at its lowest level during the session. In general, 13 of 21 sectors closed in the red zone, and 154 shares fell while 63 rose. Banks (-2.5%), Materials (-1.1%), Insurance (-2.8%) sectors contributed the most to the index fall. Stockwise, SNB (-3.4%), Al Rajhi Bank (-1.4%) and Alinma Bank (-2.7%) were the major contributors to the index’s fall. The trading activity witnessed an increase in volume and value of 3% and 5%, respectively, to reach 222mn shares and SAR5.6bn in value traded.

 

 

 

Market Wrap International:

In the U.S., stocks showed a positive movement on Friday as the S&P 500 closed down by 0.3% and Nasdaq Composite by 1.0% as technology shares led the gains following Nvidia Corp.'s positive performance in the U.S., which raised expectations for the technology sector in the region.

In Europe, the Euro Stoxx 600 recorded a 0.3% decline, while the FTSE 100 index slipped by 0.5% on Friday. Britain began preparations for a general election on July 4 and data showed growth across businesses noticeably slowed in May.

In Asia, the Hang Seng indices fell by -0.1% and SCHOMP rose by 1.0% amid concerns about an intensifying price war in the local AI market, with the believe that stocks need easing measures and government funding for the property market are deemed essential to address excess capacity and unfinished units. Both Japan's TOPIX and NIKKEI 225 declined by -0.8%.