Tadawul Review:

Tadawul All Share Index (TASI) fell on Thursday, dropping by ‎‎62 points (-0.6%) to close at 10,990. The trading session ‎began on a positive note with a 45-point increase over the ‎previous close but gradually declined until the end of the ‎session. Overall, 6 out of 21 sectors closed in the red zone, ‎while 147 shares fell and 91 rose. Banks (-0.8%), Energy (-‎‎1.7%), and Utilities (-2.1%) sectors contributed the most to ‎the index fall. Stockwise, Al Rajhi Bank (-2.3%), Aramco (-‎‎1.8%), and ACWA Power (-3.0%) were the major ‎contributors. The trading activity witnessed an increase in ‎volume and value of 94% and 123%, respectively, to reach ‎‎339mn shares and SAR10.2bn in value traded.‎

 

Market Wrap International:

Stocks ended Friday on a mixed note as investors digested renewed trade tensions after President Trump announced plans to double tariffs on imported steel and extend them to aluminum, aiming to bolster the U.S. metals industry. Despite the cautious close, both the S&P 500 and Nasdaq Composite wrapped up May with their strongest monthly gains since November 2023. Among the weaker sectors, Energy slipped 0.68%, Consumer Discretionary fell 0.58%, and Information Technology edged down 0.43%. The Nasdaq fell by 0.3%, the S&P 500 declined by 0.01%, while the Dow Jones Industrial Average gained by 0.1%.

European markets closed higher, as investors weighed renewed trade tensions and legal uncertainty around President Trump’s tariffs. While concerns over U.S.-China relations lingered, hopes for a potential ECB rate cut helped support sentiment The DAX advanced by 0.3%, the Euro STOXX 600 gained by 0.1%, the FTSE 100 increased by 0.6%, while the CAC 40 dropped by 0.4%.

Asia-Pacific markets declined, as investor sentiment took a hit from lingering trade war concerns, inflation worries, and uncertainty surrounding U.S. President Trump’s reciprocal tariffs after an appeals court paused a ruling that had blocked them. The Nikkei 225 fell by 1.2%, the Hang Seng declined by 1.2%, the SHCOMP dropped by 0.5%, and the KOSPI slipped by 0.8%.