Tadawul Review:

The Tadawul All Share Index (TASI) rose on Thursday's ‎session by 138 points (1.2%), closing at 11,424 levels. TASI ‎initially opened the session with a slight negative note of -3 ‎points from the previous but then the index steadily ‎increased throughout the session until the end. Overall, 17 ‎out of 20 sectors closed in the green zone, while 130 of 223 ‎shares rose and 75 fell. Banks (+0.8%), Energy (+2.5%), and ‎Food and beverages (+3.2%) sectors contributed the most to ‎the index's 66-point rise. In terms of stocks, Aramco (+2.6%), ‎Almarai (+6.2%), and ACWA Power (+3.5%) were the major ‎contributors. The trading volume activity declined by -12% ‎DoD to reach 216mn shares, while the trading value ‎increased by 10% DoD to reach SAR6.2bn.‎

 

 

Market Wrap International:

The global equity markets ended the week on a somber note ‎with the latest economic data reinforcing the key investors’ ‎concerns on interest rate and economic recovery in China. In ‎the U.S, the PPI data came in modestly ahead of consensus ‎expectations and stoked fears of more rate hikes by the Fed in ‎its next month’s policy meeting. The positive sentiment built ‎on the back of strong labor market data last week and soft ‎CPI reading on Thursday have greatly toned down by the PPI ‎reading. The S&P 500 Index closed with a minor loss of 0.1%. ‎However, the heavy battering in tech names meant Nasdaq ‎Composite closed with more modest losses of 0.7%. ‎

In Europe, the investors sidestepped positive economic growth ‎data in the U.K as worries over China and strong inflation data ‎in the U.S weighed on. The Stoxx Europe 600 Index dropped ‎by 1.1% at session. The country level indices also moved in the ‎same direction. ‎

In Asia, the Chinese property names were once again in the ‎limelight with yet another property company showing extreme ‎distress. Almost all major indices in the region registered losses ‎in the range of 0.2% | 2%. CSI 300 (-2.3%) and Hang Seng (-‎‎0.9%) were the major drags. Markets in Japan were closed for ‎trading on Friday. ‎