Tadawul Review:

Tadawul All Share Index (TASI) ended the session lower for ‎the third straight session on Monday.  The index was down ‎by -25 points (-0.2%) to close at 11,431 levels. TASI opened ‎the session on a postitive note of 11 points and continued ‎rising reaching its intraday high in the first hour of trading. ‎However, TASI pared its gains and closed the session in red. ‎In general, 12 out of 20 sectors closed in the red zone, while ‎‎148 of 223 shares fell and 64 rose. Banks (-0.4%), Telecom (-‎‎1.9%), and Materials (-0.6%) sectors contributed the most to ‎the index fall. Stockwise, Saudi Telecom (-2.4%), Aramco (-‎‎0.4%), and Al Rajhi Bank (-0.4%) were the major contributors. ‎The trading activity witnessed an increase in volume and ‎value by 23% and 24%, respectively, to reach 189mn shares ‎‎and SAR5.4bn in value traded.‎

 

 

Market Wrap International:

The global equity indices surged on Monday as the ‎announcement of fresh stimulus measures by the Chinese ‎authorities and positive economic data helped in shaking off ‎concerns regarding the economic outlook in China. In the U.S, ‎the cash equity markets were closed for trading on account of ‎Labor Day. The future contracts on the S&P 500 Index, ‎however, made a nominal gain of 0.2%.‎

In Europe, the Stoxx Europe 600 moved slightly down by ‎‎0.04%. Mining, along with consumer and tech names led the ‎gains. The country level indices also moved in the same ‎direction and were down -0.2%|-0.1%.

In Asia, the Chinese authorities eased the requirements for ‎new mortgages. The development came amid positive ‎economic data on home transactions and the latest update ‎regarding payment of coupons by distressed developer, ‎Country Garden. Hang Seng (2.5%) and CSI 300 (+1.5%) led ‎the region higher. Benchmarks in Japan also made sizable gains ‎‎(0.7-1%). Other major indices in the region were up in the ‎range of +0.4%|+0.8%. ‎