Tadawul Review: 

Tadawul All Share Index (TASI) fell on Monday, down by -19points (-0.2%) to close at 11,831 levels. TASI started the session positively, opening with gains of 40 points but then started to decline until the end. In general, 16 of 21 sectors closed in the red zone, and 108 shares fell while 110 rose. Banks (-0.1%), Capital goods (-2.6%), Materials (-0.2%) sectors contributed the most to the index fall. Stockwise, Riyad Bank (-2.7%), Saudi Awwal Bank (-1.7%) and Al Rajhi Bank (-0.3%) were the major contributors to the index’s fall. The trading activity witnessed an increase in volume and value of 30% and 35%, respectively, to reach 215mn shares and SAR5.9bn in value traded.

 

 

Market Wrap International:

In the U.S., US equity futures maintained limited fluctuations on Monday, as the regular trading session was shut down for Memorial Day. Investors evaluated robust corporate earnings alongside apprehensions regarding the possibility of enduring higher interest rates in the future.

European shares showed positive movement as a European Central Bank official cautioned about maintaining restrictive policy throughout the year, despite plans to cut rates next month. The Stoxx Europe 600 index rose by 0.3%, with UK and US markets closed for holidays.

In Asia, the SHCOMP and Hang Seng indices increased by 1.1% and 1.2% respectively as China has established its third state-backed investment fund, with a registered capital of 344 billion yuan ($47.5 billion), to support its semiconductor industry. The Japan's TOPIX surged by 0.9% and the NIKKEI 225 rose by 0.7%.