Tadawul Review: 

Tadawul All Share Index (TASI) fell on Tuesday, down by -171points (-1.4%) to close at 11,660 levels. TASI started the session positively, opening with gains of 21 points but then started to decline gradually to close at its intraday low. In general, 21 of 21 sectors closed in the red zone, and 202 shares fell while 23 rose. Banks (-0.9%), Utilities (-4.0%), and Materials (-1.3%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-4.7%), Aramco (-0.9%), and SNB (-2.1%) were the major contributors to the index’s fall. The trading activity witnessed a decline in volume and value of -3% and -9%, respectively, to reach 208mn shares and SAR5.3bn in value traded.

 

 

 

Market Wrap International:

The U.S. stock market reopened on Tuesday, with the S&P 500 slightly rise by 0.02% and the Nasdaq Composite rising by 0.6%, amid the pressure of reduced expectations of Federal Reserve rate cuts. Meanwhile, investors awaited key U.S. inflation data scheduled for release later this week.

In Europe, the Euro Stoxx 600 declined by -0.6% after to consumers' lower inflation expectations revealed by the European Central Bank's survey in April. However, the index minimized its losses by the performance of real estate shares. Meanwhile, the FTSE 100 index saw a decline of -0.8% on Tuesday.

In Asia, the SHCOMP index declined by -0.5%. In Japan, the TOPIX rose by 0.1% while NIKKEI 225 index fell by -0.1%, but the Bank of Japan's underlying inflation measurements falling below the 2% target raised uncertainty about the next interest rate hike.