Tadawul Review: 

Tadawul All Share Index (TASI) fell on Monday’s session, falling by -11 points to close at the 12,253 level. TASI opened the session on a positive note but started to decline gradually throughout the session until the end. Overall, 13 out of 20 sectors closed in the red zone, while 119 shares fell and 97 rose. Banks (-0.4%), Health care equipment and services (-1.7%), and Energy (-0.5%) sectors contributed the most to the index fall. Stockwise, Riyad Bank (-1.1%), Aramco (-0.5%), and Saudi National Bank (-0.6%) were the major contributors. The trading activity witnessed an increase in volume and value of +10% and +19%, respectively, to reach 287mn shares and SAR8.3bn in value traded.

 

 

 

 

Market Wrap International:

In the U.S., the S&P 500 ended the day with a gain of +0.8%, setting the stage for a busy week filled with corporate earnings, European inflation data, meetings of the Federal Reserve and the Bank of England, and the release of U.S. job numbers. Meanwhile, the Nasdaq composite also experienced a positive trend, closing up by +1.1%. Investors are expressing the belief that expectations regarding potential rate cuts in the U.S. may fluctuate throughout the week.

In Europe, the Stoxx Europe 600 rose +0.2% on Monday’s session as investors are assessing the fading impact of higher interest rates and the potential challenges posed by a weaker economic outlook. Meanwhile, the FTSE 100 index closed with a slight decline by -0.03%

In Asia, the Hang Seng Index experienced a rise of +0.8%, while the Shanghai Composite Index saw a -0.9% decline. Concerns over China's property sector and escalating supply disruption concerns in the Middle East influenced the market movements. In Japan, the TOPIX index closed positively +1.3%, and Nikkei 225 recorded a gain of +0.8%.