Tadawul Review:

Tadawul All Share Index (TASI) fell on Monday, dropping by -28 points (-0.2%) to close at the 11,191 level. TASI opened the session up of 6 points but it started to decline throughout the session to close at its intraday low. Overall, 11 out of 20 sectors closed in the red zone, while 125 shares fell and 86 rose. The Banks (-0.3%), Energy (-0.4%), and Utilities (-1.0%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-1.6%), Aramco (-0.5%), and Saudi Awwal Bank (-1.6%) were the major contributors. The trading activity witnessed an increase in volume and value of +8% and +31%, respectively, to reach 235mn shares and SAR5.4bn in value traded.

 

 

 

Market Wrap International:

In the U.S., stocks slightly declined as concerns over the Israel-Hamas conflict and doubts about the OPEC+ decision on supply cuts weighed on investor sentiment. The S&P 500 closed down by 0.5% with seven sectors falling, while the Nasdaq Composite also fell by 0.8%. Additionally, falling oil prices contributed to the negative market sentiment due to concerns about global fuel demand.

In Europe, the Stoxx Europe 600 edged down by -0.1% as investors await industrial production data on Tuesday, and the FTSE-100 index also saw a decline of -0.2% as investors await industrial production data on Tuesday. Further, German exports fell by 0.2% in October due to declining demand within the European Union.

In Asia, the equity benchmark fell, primarily driven by losses in Chinese and Hong Kong stocks (Shanghai Composite: -0.3%, Hang Seng: -1.1%). Investors were searching for new catalysts following a robust rally in November as the Japanese indices ending on a negative note (Topix: -0.8%, Nikkei 225: -0.6%) and the the dollar was little changed against the yen at 146.69, after falling to 146.24 in the Asian session, its lowest since mid-September.