Tadawul All Share Index (TASI) fell on Thursday, dropping 12 points (-0.11%) to close at 10,990.45. The index opened 5 points above its previous close, but it recovered some losses before the close; however, it still ended in the red zone. Overall, 12 out of 21 sectors closed in the red zone, and 109 shares rose while 150 fell. Banks (-0.3%), Energy (-0.4%), and Health Care Equipment & Services (-0.9%) sectors contributed the most to the index decline. Stockwise, Saudi Aramco (-0.4%), SNB (-0.5%), and Sulaiman Alhabib (-1.2%) were the major contributors to the index decline. The trading activity witnessed an increase in volume and value of +3% and +10%, respectively, to reach 237mn shares and SAR 4.9bn in value traded.
Market Wrap International:
U.S. equities ended sharply lower as a stronger-than-expected U.S. jobs report increased concerns that the Federal Reserve may keep monetary policy restrictive for longer, prompting a broad risk-off move across equities. Technology and semiconductor stocks led the decline, with chipmakers suffering their steepest selloff in years as investors took profits following an extended AI-driven rally and reassessed valuation levels amid rising Treasury yields. The S&P 500 fell -2.6%, the Dow Jones Industrial Average declined -1.3%, and the NASDAQ dropped -4.2%.
European equities ended mixed as investors balanced the impact of weakness in global technology shares against support from defensive sectors and energy-related stocks. Sentiment remained cautious amid concerns over higher interest rates, while elevated geopolitical uncertainty and commodity-price movements influenced sector rotation across the region. The FTSE 100 rose 0.1%, the DAX fell -0.7%, the CAC 40 declined -0.3%, and the EURO STOXX 600 slipped -0.3%.
Asian markets ended lower as the global technology selloff spread through regional markets, weighing heavily on semiconductor and growth-oriented shares. South Korea experienced the sharpest decline as investors reacted to weakness in AI-related stocks and broader risk aversion, while Japanese and Hong Kong equities also retreated. The SHCOMP fell -0.7%, the KOSPI dropped -5.5%, the Nikkei 225 declined -1.3%, and the Hang Seng fell -1.2%.