Tadawul All Share Index (TASI) rose on Thursday, gaining 10 points (+0.09%) to close at 11,090.33. The index opened 3 points above its previous close, but before closing it faced selling pressure, yet remained in the green zone. Overall, 8 out of 21 sectors closed in the green zone, and 138 shares rose while 115 fell. Capital Goods (+1.3%), Consumer Staples Distribution & Retail (+1.0%), and Materials (+1.0%) sectors contributed the most to the index rise. Stockwise, Saudi Aramco (+0.5%), Sabic (+1.6%), and Sabic AGRI-Nutrients (+2.5%) were the major contributors to the index rise. The trading activity witnessed an increase in volume and a decrease in value of +0.4% and -5%, respectively, to reach 263mn shares and SAR 5.4bn in value traded.
Market Wrap International:
U.S. equities ended lower as escalating Middle East tensions drove oil prices higher and reignited inflation concerns, prompting a rise in Treasury yields and a rotation away from growth sectors. Technology and communication services led the declines, with semiconductor and large-cap tech stocks under pressure as risk sentiment deteriorated. Defensive sectors showed relative resilience, but broader market breadth remained weak amid continued uncertainty over the policy outlook and global growth. The S&P 500 fell -1.7%, the Dow Jones Industrial Average declined -1.7%, and the NASDAQ dropped -2.1%.
European equities ended lower, following the negative lead from Wall Street as higher energy prices and persistent geopolitical uncertainty weighed on sentiment. Investors remained cautious amid the implications of elevated oil costs on inflation and monetary policy expectations, with cyclical sectors including industrials and financials underperforming while defensives provided limited support. The FTSE 100 was unchanged, while the DAX fell -1.4%, the CAC 40 declined -0.9%, and the EURO STOXX 600 slipped -1.0%.
Asian markets are trading mixed as regional investors reacted to the weaker global backdrop alongside ongoing concerns around energy prices and inflation pressures. Chinese equities found support on selective buying and policy expectations, while Hong Kong also edged higher, contrasting with declines in Japan and South Korea where export-oriented and technology names remained under pressure. The SHCOMP rose 0.6% and the Hang Seng gained 0.4%, while the Nikkei 225 fell -0.4% and the KOSPI declined -0.4%.