Tadawul Review:

Tadawul All Share Index (TASI) declined on Tuesday, down by -15 ‎points (-0.1%) to close at 12,358 levels. At the beginning of the session, the TASI index recorded an increase of 13 points to reach its highest level during the day, but it gradually declined until the end of the session. In general, 18 out of 21 sectors closed in ‎the red zone, and 70 shares rose while 150 fell. Materials ‎‎(-0.5%), Telecommunications (-0.7%), and Real Estate (-0.6%) ‎sectors contributed the most to the index fell. Stockwise, ‎ Sabic (-1.1%), Saudi Telecom (-0.8%), and ‎ Americana (-5.1%) were the major contributors. The trading ‎activity witnessed an increase in volume by 20% ‎ to reach 315mn while the value decrease by -4% to reach SAR7.0bn value traded.‎

 

 

 

Market Wrap International:

the U.S. market witnessed a positive uptick, with the S&P 500 ‎registering a 0.1% increase while the Nasdaq composite ‎negative by -0.1% as Walt Disney reported earnings which was ‎‎22.08B revenue below the estimate. Additionally, market ‎participants remained optimistic about the possibility of the ‎Federal Reserve implementing interest rate cuts later this ‎year.‎

In Europe, the Euro Stoxx 600 index recorded a 1.1% increase, ‎and the FTSE 100 also close increase by 1.2%. with a slight ‎depreciation of the British pound against the U.S. dollar on ‎Tuesday, ahead of the Bank of England's policy announcement ‎scheduled for Thursday. Investors adjusted their expectations ‎by fully pricing in the likelihood of two quarter-point rate cuts ‎taking place within this year.‎

 

In Asia, the SHCOMP index demonstrated a notable increase ‎of 0.2%, while the Hang Seng index fell by -0.5%. The Japanese ‎and Korean markets resumed trading on Tuesday, The Topix ‎index rose by +0.6%, and the Nikkei 225 index also rose by ‎‎+1.6%.‎‏ ‏as Japan contemplates potential actions against ‎disruptive foreign exchange movements driven by speculation.‎