Tadawul Review: 

Tadawul All Share Index (TASI) fell on Tuesday, down by -196points (-1.7%) to close at 11,612 levels. TASI started the session positively, opening with rise of 1 point then started to decline gradually to close at its lowest level during the session. In general, 21 of 21 sectors closed in the red zone, and 198 shares fell while 28 rose. Banks (-1.0%), Materials (-2.4%), Energy (-2.4%) sectors contributed the most to the index fall. Stockwise, Aramco (-2.4%), ACWA Power (-2.5%) and Maaden (-4.1%) were the major contributors to the index’s fall. The trading activity witnessed a decline in volume and value of -21% and -11%, respectively, to reach 307mn shares and SAR7.1bn in value traded.

 

 

 

 

 

Market Wrap International:

The U.S. stock market ended Tuesday on a positive note, with the S&P 500 gaining 0.2% with 6 out of 11 sectors gained, and the Nasdaq Composite rising 0.2% as investors were concerned about the weakening manufacturing activity and the investigation into the significant drop of 99.97% in Berkshire Hathaway's stock.

In Europe, On Tuesday, the Euro Stoxx 600 in Europe fell by -0.5%, and the FTSE 100 index also declined by -0.4% on the same day. Investors were evaluating the possibility of an earlier U.S. rate cut while considering the impact of weakening manufacturing activity on corporate profits. Additionally, losses were exacerbated by a decline in energy stocks..

Asian markets saw mixed performance, with the SHCOMP index in China increasing by 0.4%. In Japan, the TOPIX index decreased by -0.4%, and the NIKKEI 225 index slipped by -0.2%. The decline in China's new housing construction sparked hopes that the troubled property sector is addressing its long-standing issue of oversupply.