Tadawul Review: 

Tadawul All Share Index (TASI) fell on Wednesday’s session ‎by -27 points (-0.2%) to end a three-day streak of gains, ‎closing at 11,592 levels. TASI opened the session down by -3 ‎points, then rose to reach its intraday high by 18 points in ‎the first trading hour. However, TASI started to decline after ‎that, until the end of the session. In general, 14 out of 20 ‎sectors closed in the red zone, while 126 stocks fell and 85 ‎rose. Banks (-0.4%), Health care equipment and services (-‎‎1.3%), and Telecom (-0.7%) sectors contributed the most to ‎the index's (-22 point) fall. Stockwise, Saudi Fransi (-2.8%), ‎Etihad Etisalat (-3.0%), and Saudi National Bank (-0.4%) ‎were the major contributors. The trading activity witnessed ‎an increase in volume and value of 18% and 17%, ‎respectively, to reach 293 shares and SAR8.5bn in value ‎traded.‎

 

Market Wrap International:

The global equity indices edged down on Wednesday ahead of ‎important data releases in the U.S. The investors’ expectations ‎on post COVID economic recovery in China were further ‎dampened by the latest data on service for the country. In the ‎U.S, Both of S&P 500 and Nasdaq Composite indices were down ‎by 0.2%. Within the S&P 500, the tech names were relatively ‎muted, while media & entertainment offset the decline seen in ‎other sectors.‎

In Europe, the sentiments were dampened by the economic ‎data release in China, the region's key trade partner. The Stoxx ‎Europe 600 Index dropped by 0.7% led by Utilities, Energy and ‎Financials. The country level indices too followed suit and were ‎down by 0.6-1.0%.‎

In Asia, equity benchmarks in China led the decline for the ‎region with Hang Seng and CSI300 falling by 1.6% and 0.7% ‎respectively. Other major indices were also weak and closed with ‎‎0.3-0.7% barring Topix and SENSES which closed with no major ‎change. In China, the latest reading for the Caixin Chian Service ‎Manager’s Index came in significantly below market expectation ‎and reinforced market concerns on slowing economic recovery ‎in China.‎