Tadawul Review:

The Tadawul All Share Index (TASI) fell on Monday, losing 110 points (-0.91%) to close at the 11,959.67 level. The session opened 3 points lower than the previous closing level and experienced additional selling pressure throughout the end of the session. In general, 15 out of 21 sectors closed in the red zone, with 140 shares falling while 80 rose. The Banks (-1.2%), Utilities (-5.9%), and Materials (-0.4%) sectors contributed the most to the index's decline. Stock wise, ACWA Power (-7.4%), Al Rajhi Bank (-1.6%), and Saudi National Bank (-0.7%) were the major contributors.  Trading activity saw a decrease in volume by 37% and an increase in value by 28%, reaching 437 million shares and SAR 7.3 billion in value traded.

 

 

 

Market Wrap International: 

Ahead of earnings season, U.S. equity futures increased, with companies focusing on efficiency during times of economic uncertainty, demonstrating that the effects of falling interest rates were not as severe as anticipated. The Dow Jones Industrial Average rose by 0.5%, the S&P 500 increased by 0.8%, and the Nasdaq Composite gained 0.9%.

 

After a rocky previous week due to worries over a slowdown in China's stimulus rally, sentiment in the region changed as traders grew hopeful about Beijing’s promises, resulting in positive outcomes. The CAC 40 rose by 0.3%, the DAX by 0.7%, and the FTSE 100 increased by 0.5%.

 

 

Most Asian markets declined on Monday, following the downturn on Wall Street due to strong U.S. uncertainty ahead of earnings season. This led to mixed performance in Asian markets, with key indices such as the Hang Seng falling by 0.7%, while the KOSPI rose by 1.0%.