Tadawul Review:  

Tadawul All Share Index (TASI) rose on Thursday, gaining 6 points (+0.05%) to close at 10,920. TASI started the session on a negative note, opening 7 points lower than the previous close. The index then faced selling pressure until the middle of the session, before gradually increasing until the end. In general, 8 out of 21 sectors closed in the green zone, and 111 shares rose while 136 fell. Banks (+0.5%), Insurance (+1.4%), and Energy (+0.2%) sectors contributed the most to the index rise. Stockwise, Saudi National Bank (+1.5%), Al Rajhi Bank (+0.3%), and Aramco (+0.3%) were the major contributors. The trading activity witnessed a decrease in volume by -38% to reach 417mn shares, while the value increased by 2% to reach SAR4.3bn in value traded.

 

 

Market Wrap International:

US stocks tumbled as investors reacted to the Trump administration's new widespread tariffs and a weak July jobs report. The Consumer Discretionary (-3.59%), Information Technology (-2.07%), and Energy (-1.77%) sectors saw the steepest declines. The S&P 500 fell by -1.6%, NASDAQ dropped by -2.2%, and the Dow Jones Industrial Average saw a decrease of -1.2%.

European stocks have dropped to a three-week low. This is due to investor concerns over new U.S. taxes on several countries, including a 39% rate on Switzerland. The CAC 40 fell by -2.9%, the Euro STOXX 600 dropped by -1.9%, the DAX decreased by -2.7%, and the FTSE 100 saw a decline of -0.7%.

Asian-Pacific markets fell. This was largely a reaction to new U.S. tariffs, with rates on some countries ranging from 10% to 41%. Adding to the anxiety, investors are also waiting on U.S. jobs data, which could influence whether the Federal Reserve cuts interest rates next month. The KOSPI dropped by -3.9%, the SHCOMP fell by -0.4%, the Hang Seng experienced a drop of -1.1%, and the NIKKEI 225 posted a decrease of -0.7%.