Tadawul Review: 

The Tadawul All Share Index (TASI) fell on Tuesday’s session, falling by -5 points (-0.04%) to close at the 12105 level. TASI began the session on a positive note, gaining 27 points initially. However, it experienced fluctuations and followed a downward trajectory throughout the session until the end. Overall, 11 out of 20 sectors closed in the red zone, while 127 shares fell and 82 rose. Banks (-0.2%), Food and beverages (-0.8%), and Materials (-0.1%) sectors contributed the most to the index fall. Stockwise, Saudi Awwal Bank (-2.1%), Alinma Bank (-1.3%), and Saudi National Bank (-0.5%) were the major contributors. The trading activity witnessed a decline in volume and value of -9% and -10%, respectively, to reach 307mn shares and SAR8.5bn in value traded.

 

 

 

Market Wrap International:

In the U.S., markets ended Tuesday’s session on a positive note, with the S&P 500 up 0.3% and 7 out of 11 sectors rising as Investor attention now shifts to the European Central Bank’s Thursday meeting and whether officials may indicate a start to policy easing. The Nasdaq composite was up 0.4%, while investors analyzing some of the companies earning such as Netflix with $8.8 billion revenue which was higher-than-estimate.

In Europe, markets edged lower on Tuesday as investor caution ahead of the ECB policy meeting this week weighed on equities, but mining stocks limited the extent of the declines. The Stoxx Europe 600 fell by -0.3%, while the FTSE 100 index closed slightly down by -0.03%. Investors eagerly await indications regarding the future interest rate trajectory and the potential timing of rate cuts.

In Asia, Chinese stocks rose following the huge market rescue package to stabilize the country's slumping stock markets; the Hang Seng Index experienced a notable increase of 2.6%; and the Shanghai Composite Index recorded gains of 0.5%. In Japan, both of TOPIX and Nikkei 225 recorded a decline of -0.1%, as the Bank of Japan maintained its accommodative monetary policies while signaling a potential end to negative interest rates.