Tadawul All Share Index (TASI) fell on Sunday, dropping by -31 points (-0.3%) to close at 10,899. The index opened 6 points lower than its previous close, fluctuated slightly during the session, but began to decline after the mid-session and continued falling until the end. Overall, 18 out of 21 sectors closed in the red zone, while 169 shares fell and 77 rose. Banks (-0.2%), Energy (-0.8%), and Real Estate (-0.7%) sectors contributed the most to the index fall. Stockwise, Aramco (-0.8%), Al Rajhi Bank (-0.5%), and SIIG (-6.7%) were the major contributors. The trading activity witnessed a decrease in volume and value of -14% and -23%, respectively, to reach 235mn shares and SAR3.5bn in value traded.
Market Wrap International:
This week brings a packed schedule of economic events that could drive market sentiment across regions. In the U.S., inflation will take center stage on Tuesday, August 12, with the release of July’s CPI (YoY) and Core CPI (MoM). In Europe, Germany’s July CPI (MoM) arrives on Wednesday, August 13, followed by the UK’s second-quarter GDP results on Thursday, August 14, including both monthly and annual growth figures. In Asia, Thursday will also see Japan’s Q2 GDP (QoQ), while Friday, August 15, marks South Korea’s Liberation Day, a public holiday that will pause local market activity.