Tadawul Review:

The Tadawul All Share Index (TASI) fell on Tuesday, falling by -69 points (-0.6%) to close at the 12,106 level. TASI started the session negatively, opening with a fall of -7 points, but then displayed fluctuations throughout the session until the end. Overall, 16 out of 21 sectors closed in the red zone, while 173 shares fell and 55 rose. Banks (-0.8%), Materials (-0.9%), and Energy (-1.0%) sectors contributed the most to the index fall. Stockwise, Aramco (-1.1%), Al Rajhi Bank (-0.7%), and Saudi National Bank (-1.1%) were the major contributors. The trading activity witnessed a decline in volume and value of -33% and -18%, respectively, to reach 296mn shares and SAR6.9bn in value traded.

 

 

 

Market Wrap International: 

The S&P 500 hovered near the flatline Tuesday as traders readied for earnings reports from major technology behemoths. Investors awaited earnings releases from other major tech firms, anticipating a sector-wide rebound from recent losses amidst a shift away from large-cap stocks. The Dow Jones decreased by -0.1%, NASDAQ by -0.1%, and S&P500 by -0.2%.

The Bank of France and the nation's financial market regulator called on Europe to accelerate efforts to reduce the time required for settling stock trades, aiming to bring Europe in line with Wall Street. The CAC index fell by -0.3%, the DAX index rose by 0.8%, and the Euro Stoxx 600 showed gains of 0.1%.

Global stocks displayed varied performances on Tuesday, with Chinese shares experiencing their sharpest decline in six months amid investor indifference toward Beijing's recent policy adjustments. The Hang Seng index declined by -0.9% as investor sentiment wavered in response to prevailing market conditions, reflecting concerns over economic growth prospects and ongoing geopolitical tensions, while the Nikkei 225 remained unchanged and the KOSPI gained 0.4%, showing modest gains amidst the mixed global market sentiment.