Tadawul Review:

Tadawul All Share Index (TASI) ended the session slightly ‎positive on Thursday by 3 points to close at 11,756 levels. ‎TASI opened the session on a positive note with  15 points ‎jump  and experienced a significant decline in the first ‎trading hour. However, Following its initial decline, TASI ‎recovered and steadily rose until the end of the session. In ‎general, 8 out of 20 sectors closed in the green zone, while 75 ‎of 223 shares rose and 138 fell. Real Estate (+1.6%), Telecom ‎‎(+0.7%), and Utilities (+0.8%) sectors contributed the most to ‎the index's +14-point rise. Stockwise, ACWA Power (+1.5%), ‎Elm Co. (+5.3%), and Jabal Omar (+2.6%) were the major ‎contributors. The trading volume activity Decreased by -3% ‎DoD to reach 245mn shares, while the trading value ‎increased by 5% to reach SAR5.8 bn value traded.‎

 

 

Market Wrap International:

The global equity markets closed the week on a muted note ‎with investors digesting the weak set of results from tech ‎names across the regions and not so favorable economic data ‎a session before in the U.S. From the market perspective, the ‎expiry of options and rebalancing of Nasdaq also weighed on ‎trading. In the U.S, the results for June-end quarter and not-‎so-upbeat earnings guidance from the corporates has pulled ‎down the S&P 500 (almost flat, pared intraday gains) and ‎Nasdaq Composite (-0.2%). Dow Industrial Average rose for ‎the ten-straight session. The sovereign yields across the key ‎tenures remained broadly unchanged ahead of the FOMC ‎meeting early next week.‎

In Europe, the Stoxx Europe 600 Index added to its weekly ‎gains on Friday by rising 0.3%. The country level indices moved ‎in divergent directions. Energy and consumer were the major ‎gainers while the tech names gave up recent gains.‎

In Asia, tech stocks painted a similar picture with the chip ‎stocks coming under selling pressure on downbeat demand ‎outlook. Tech heavy indices such as TAIEX (-0.8%) and ‎KOSPI(+0.4%)  closed with losses. Indices in China (Hang ‎Seng:+0.8%) was the major gainer in the region. Indices in ‎Japan moved in divergent directions. ‎