Tadawul Review:

Tadawul All Share Index (TASI) ended Monday's session with ‎a gain of +35 points (+0.3%), and settled at the level of ‎‎11,668, capping the monthly gains at +262 points (MoM: ‎‎+2.3%, YTD: +3%). TASI opened the session positively, but it ‎experienced sharp volatility throughout the trading period, , ‎as the index was trading in a range of 118 points. In the ‎closing auction, the index was able to add +51 points to close ‎in the green. In general, 10 sectors out of 20 closed in the ‎green zone, while 117 shares rose and 79 shares fell. Banks ‎‎(+0.7%), Energy (+0.5%), and Insurance (+2.2%) provided the ‎push for the rise of the index. Amongst stocks, Saudi National ‎Bank (+2.8%) led the charge, followed by Saudi British Bank ‎‎(+4.3%) and Aramco (+0.4%). Trading activity also witnessed ‎a remarkable improvement in the volume and value of ‎trading by +40% and +38%, respectively, to reach 146mn ‎shares and SAR5.2bn. Positive economic data (GDP, Fiscal ‎Revenues) and robust oil prices may help TASI to partially recover ‎losses in recent sessions. ‎‎

 

 

 

Market Wrap International:

The global equity indices exhibited mixed tends on Monday ‎ahead of two important policy decisions due later this week. ‎Investors are also keeping a close eye on important economic ‎data before the policy rate announcement and the movement ‎in treasury yields (+3-6bps). The tech-led uptick in the key ‎benchmark in the U.S seen over the weekend fizzled out on ‎Monday. The S&P 500 and Nasdaq Composite dropped by ‎‎0.7% and 1% respectively to close the month with 8% and 3.9% ‎return. ‎

In Europe, the benchmark Stoxx Euro 600 Index moved ‎sideways during the session before closing the session with ‎modest gains of 0.4%. Result season emerged as a key driver. ‎Country level indices were broadly positive with FTSE-100 and ‎Dax closing with 0.7% and 0.1% returns.‎

 

In Asia, equity indices in Hong Kong (HangSeng: -1.2%, down to ‎‎2005 low) and China (Shanghai Composite: -0.8%) continued ‎facing headwinds from the combination of below-par economic ‎data and current COVID-19 policies. Outside China/HK, tech-‎heavy indices (TAIEX in Taiwan, KOSPI in Korea) managed to ‎moved higher by 1.3-1.1% over optimism over higher export ‎demand. Strong corporate results in Japan (Nikkei:+1.8, ‎TOPIX:+1.6%) and India (SENSEX:+1.3%) higher.    ‎