Tadawul Review:

Tadawul All Share Index (TASI) fell for the second day on Monday’s session, dropping by -73 points (-0.6%) to close at 12,532. TASI began the session with a negative note of -7 points but quickly rebounded, reaching its intraday high in the first trading hour. However, following the initial surge, the index gradually declined throughout the rest of the session. Overall, 16 out of 20 sectors closed in the red zone, and 185 shares fell while 42 rose. Materials (-1.1%), Food and beverages (-2.2%), and Real Estate (-1.6%) sectors contributed the most to the index’s fall. Stockwise, ACWA Power (-1.7%), Aramco (-0.5%), Jabal Omar (-3.8%) were the major contributors. The trading activity witnessed an increase in volume and value of 22% and 38%, respectively, to reach 469mn shares and SAR9.2bn in value traded.

 

 

 

Market Wrap International:

In the U.S., oil prices experienced a decline on Monday, as concerns grew that higher-than-expected inflation could delay reductions in high interest rates, which have been constraining global fuel demand. Meanwhile, the S&P 500 index fell by -0.4%, with 8 out of 11 sectors posting losses driven by the Utilities which saw a significant decline of -2.10%. Meanwhile, the Dow Jones fell by -0.2% and the Nasdaq Composite declined by -0.1%.

In Europe, the Stoxx Europe 600 index saw a decline of -0.4%, and the FTSE 100 experienced a decline of -0.3%. This week, market attention is focused on upcoming inflation figures in the euro zone, Japan, and Australia, as well as the rate decision from the Reserve Bank of New Zealand (RBNZ) and China's PMI surveys.

In Asia, the Japanese indices experienced gains in anticipation of the upcoming inflation data, which is forecasted to slow to 1.8%. This could further strengthen the case against policy tightening by the Bank of Japan. The TOPIX index climbed by +0.5%, and the Nikkei 225 rose by +0.3%. Conversely, the Hong Kong market declined by -0.5%, and the Shanghai Composite Index fell by -0.9%.