Tadawul Review:

Tadawul All Share Index (TASI), after a continuous rise over ‎nine days, fell on Monday, declining slightly by 1 point (-‎‎0.01%) to close at the 12,261 level. TASI started the session ‎positively, opening with gains of 39 points, but gradually ‎declined until the end of the session. Overall, 12 out of 21 ‎sectors closed in the red zone, while 137 shares fell and 85 ‎rose. Banks (-0.2%), Food and beverages (-1.7%), and Health ‎care equipment and services (-1.1%) sectors contributed the ‎most to the index fall. Stockwise, Sulaiman Al habib (-1.8%), ‎Saudi National Bank (-0.7%), and Savola (-6.1%) were the ‎major contributors. The trading activity witnessed an increase ‎in volume and value of 18% and 13%, respectively, to reach ‎‎352mn shares and SAR9.0bn in value traded.‎

 

 

 

Market Wrap International: 

Stock futures are up on Monday, with the Dow nearing a record high after a significant market boost on Friday. This rally followed Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole conference, where he confirmed that a rate cut is nearly certain in September. The S&P 500 fell by -0.3%, the Nasdaq Composite decreased by -0.9%, and the Dow Jones Industrial Average gained by 0.2%.

European stocks showed varied performance on Monday as investors assessed the increased Middle Eastern tensions after strikes by Israel and Hezbollah over the weekend. The CAC 40 increased by 0.2%, while the DAX fell by -0.1% and the EURO STOXX 600 slightly declined by -0.02%, indicating a mixed performance across European markets. Meanwhile, the FTSE 100 was closed on Monday.

 

Most Asian equity markets experienced mixed performance along with the yen following comments from US Federal Reserve Chair Jerome Powell, who indicated that "the time has come" to begin reducing interest rates, potentially leading to a cut as early as next month. Key indices, including the Hang Seng, which rose by 1.1%, the TOPIX with a -0.9% decrease, and the KOSPI, down by -0.1%.