Tadawul Review:

Tadawul All Share Index (TASI) fell on Thursday, down by -193 points (-1.7%) to close at 11,503 levels, capping the monthly losses at -‎‎193 points (MoM: -7.2%, YTD:-3.9%). TASI started the session unchanged then started to decline gradually to close at its intraday low. In general, 21 of 21 sectors closed in the red zone, and 161 shares fell while 65 rose. Banks (-1.6%), Utilities (-8.3%), and Telecom (-2.3%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-10%), Al Rajhi Bank (-1.4%), and SNB. (-3.0%) were the major contributors to the index’s fall. The trading activity witnessed an increase in volume and value of 69% and 112%, respectively, to reach 416mn shares and SAR13.1bn in value traded.

 

 

 

Market Wrap International:

On Friday, the U.S. stock markets experienced an rise, with the S&P 500 rising by +0.8% and the Dow Jones rose by +1.5%. Investors were analyzing a range of data, including U.S. GDP and inflation figures, which contributed to caution due to uncertainty about the Federal Reserve's future actions.

The Euro Stoxx 600 in Europe rose by 0.3% on Friday after the inflation data which rose in May, in a sign the European Central Bank still faces a slow and uncertain journey to reach its goal of fully reining in prices. Additionally, the FTSE 100 index saw a rise of 0.5% on the same day.

 

In Asian markets, amidst a weakening yuan and a fragile economy, record global fund launches in China indicate low confidence among domestic investors. The Hang Seng index declined by -0.8%, while Japan's TOPIX and NIKKEI 225 indices rose by 1.7% and 1.1% respectively.