Tadawul Review:

Tadawul All Share Index (TASI) fell for the eighth day on ‎Monday’s session by -80 points (-0.7%) to close at 11,272 ‎levels. TASI opened the session on a slight negative note, ‎down -1 point from the previous close. TASI started to rise, ‎reaching its intraday peak in the first trading hour before ‎gradually declining until the end of the session. In general, 16 ‎out of 20 sectors closed in the red zone, while 156 of 223 ‎shares fell and 57 rose. Banks (-0.8%), Materials (-1.5%), and ‎Telecom (-2.3%) sectors contributed the most to the index's -‎‎63-point fall. Stockwise, Saudi National Bank (-1.5%), Saudi ‎Telecom (-2.6%), and Riyad Bank (-2.6%) were the major ‎contributors. The trading activity witnessed an increase in ‎volume and value by 61% and 69%, respectively, to reach ‎‎271mn shares and SAR6.4bn in value traded. TASI has lost ‎cumulatively 635 points in the last eight sessions.

 

 

Market Wrap International:

The global equity markets moved in divergent directions on ‎Monday with investors responding to the ongoing result ‎season. In the U.S, the S&P 500 Index jumped 0.9% on ‎renewed investors interest in the market following a relatively ‎volatile last week. The Financial and health care sectors were ‎in the lead. The yields on the U.S bonds were broadly stable ‎and made a move of 4-5bps. Result season alon with upcoming ‎CPI print (Thursday) are the key focus areas for the investors.‎

In Europe, the Stoxx Europe 600 Index was almost flat. The ‎industrial growth data in Germany served to substantiate ‎market’s fears of recession in the region. The country level ‎indices closed with a marginal drop.‎

In Asia, the major equity indices failed to adopt any particular ‎trend. The start of prob against pharma companies in China ‎brought back investors fears of fresh regulatory risk associated ‎with China. CSI300 went down by 0.8% though Hang Seng in ‎Hong Kong was flat. Indices in India, Taiwan and Japan rose by ‎‎0.4-0.9% while Kospi in Korea registered a drop of 0.8%.‎