Tadawul All Share Index (TASI) fell on Thursday, dropping 139 points (-1.28%) to close at 10,709.04. The index opened 24 points below its previous close, but it recovered some losses before the close; however, it still ended in the red zone. Overall, 18 out of 21 sectors closed in the red zone, and 102 shares rose while 154 fell. Media and Entertainment (-6.2%), Energy (-2.9%), and Utilities (-1.8%) sectors contributed the most to the index decline. Stockwise, Fipco (-9.9%), Alamar (-5.5%), and Gasco (-4.2%) were the major contributors to the index decline. The trading activity witnessed an increase in volume and value of 62% and 75%, respectively, to reach 271mn shares and SAR 6.6bn in value traded.
Market Wrap International:
U.S. equities ended lower as persistent valuation concerns in technology names and broader risk-off sentiment weighed on benchmarks, reflecting follow-through from global stocks easing on persistent valuation and geopolitical uncertainty. Pressure on high-beta and AI-linked names contributed to weakness across the board, with the S&P 500 declining -0.4%, the Dow Jones Industrial Average slipping -1.1% and the NASDAQ falling -0.9%.
European equities ended mixed with modest upside in the U.K. and resilience in pan-European risk appetite despite cautious positioning amid lingering macro uncertainty; the FTSE 100 rose 0.6% while Germany’s DAX was essentially flat down -0.02% and France’s CAC 40 fell -0.5%, leaving the EURO STOXX 600 slightly higher by 0.1%. Local markets were supported by pockets of strength in defensives and rate-sensitive sectors even as broader European sentiment remained tentative.
Asian markets are trading with a mixed profile as regional equities absorb tech sector weakness from global peers and diverging local drivers; mainland China’s SHCOMP gained 0.4%, Japan’s Nikkei 225 rose 0.2%, Hong Kong’s Hang Seng advanced 0.9%, while South Korea’s KOSPI declined -1.0%.