Tadawul Review: 

Tadawul All Share Index (TASI) fell on Monday’s session, dropping by -10 points (-0.1%) to close at the 11,081 levels. TASI started the day with a decline of -11 points and continued steady until the end. Overall, 12 out of 20 sectors closed in the red zone, while 126 shares fell and 81 rose. Materials (-1.0%), Utilities (-1.8%), and Energy (-0.4%) sectors contributed the most to the index fall. Stockwise, ACWA Power  (-2.0%), ACWA Power (-0.5%), and Sabic (-1.6%) were the major contributors. The trading activity witnessed an increase in volume and value of +1% and +36%, respectively, to reach 226mn shares and SAR5.1bn in value traded.

 

 

 

Market Wrap International:

In the U.S., stocks slightly fell as investors were anticipating important inflation data from the United States and Europe later in the week. The S&P 500 closed down by -0.1% with seven of the eleven listed sectors falling, and the Nasdaq Composite also fell by -0.2% as oil prices slipped, nearing $80 per barrel, with investors waiting for the upcoming OPEC+ meeting for an expected agreement to reduce supplies into 2024.

In Europe, investors are attentively monitoring upcoming inflation data analysis this week, as the Bank of England Governor expressed the difficulty of achieving the central bank's 2% target. Stoxx Europe 600 edged down by -0.3%, and the FTSE-100 index also saw a decline of -0.4% as the pound rose for a third consecutive day on Monday, set to record its biggest monthly increase against the dollar in a year.

In Asia, the markets fell on Monday, with China's money market experiencing tightness due to concerns over month-end demand and the lingering memory of a recent liquidity squeeze. The Chinese indices were down (Shanghai Composite: -0.3%, Hang Seng: -0.2%), and the Japanese indices ended on a negative note (Topix: -0.4%, Nikkei 225: -0.5%), as the governor of Japan expressed the same as the Bank of England about the uncertainty of the central bank's 2% inflation target.