Tadawul Review:

Tadawul All Share Index (TASI) fell on Tuesday’s  session by -‎‎81 points (-0.7%) to close at 11,413 levels. TASI opened the ‎session on a slight negative note by -2 points from the ‎previous close and continued to decline troughout the session ‎until the end. In general, 16 out of 20 sectors closed in the ‎red zone, while 166 of 223 shares fell and 47 rose. Banks (-‎‎0.9%), Materials (-0.8%), and Telecom (-1.7%) sectors ‎contributed the most to the index's -64 point fall. Stockwise, ‎Aramco (-0.6%), Saudi National Bank (-1.3%), and ACWA ‎Power (-1.8%) were the major contributors. The trading ‎activity witnessed a decrease in volume and value by -15% ‎and -13%, respectively, to reach 198 shares and SAR5.1bn in ‎value traded.‎

 

 

Market Wrap International:

For the global equity markets, U.S. stock index futures were ‎lower early Tuesday after interest rate cuts by the People's ‎Bank of China failed to solve investors' concerns about ‎weakening activity in the world's second biggest economy, ‎even in the face of strong retail sales data for July in the U.S. ‎The S&P 500 Index closed the session at -1.2 % with all listed ‎sectors dropped. and Nasdaq closed at -1.1%.‎

In Europe, European stocks sold off sharply on Tuesday, after ‎China’s central bank unexpectedly cut the rate to shore up ‎the country’s stagnant economy. The Stoxx Europe 600 Index ‎and FTSE 100 index in UK were down by -0.9% and -1.6%. The ‎country-level indices were also down in the range of -0.9%–-‎‎1.1%.‎

In Asia, following yet another unsatisfactory performance in ‎industrial production and retail sales this month, China's ‎central bank scrambled to cut 1-year lending rates by 15 basis ‎points to 2.50% - the second cut in policy rates in three ‎months - and sent the yuan sliding to 2023 lows against the ‎dollar. SHCOMP and Hang Seng went down by -0.1% and -‎‎1.0% respectively. Equity indices in Japan rose  (TOPIX:+0.4%, ‎NIKKEI 225:+0.6%) after data showed the nation’s economy ‎expanded faster than expected.  Taiwan( TWSE) ended the ‎session up by 0.49%. Markets in India(Independence day) and ‎Korea were closed for trading on Tuesday. ‎