Tadawul Review: 

Tadawul All Share Index (TASI) closed positively for the third ‎day, climbing by 74 points (+0.6%) on Tuesday’s session to ‎close at 11,619 levels. TASI opened the session up by 13 ‎points and continued to rise gradually throughout the session ‎to close at its intraday high. In general, 15 out of 20 sectors ‎closed in the green zone, while 121 stocks rose and 86 fell. ‎Banks (+0.5%), Utilities (+5.2%), and Telecom (+1.2%) sectors ‎contributed the most to the index's (+44 point) rise. ‎Stockwise, ACWA Power (+7.4%), Saudi Awwal Bank (+3.4%), ‎and Saudi Telecom (+1.9%) were the major contributors. The ‎trading volume activity decreased by -7% DoD to reach ‎‎247mn shares, while the trading value increased by 2% DoD ‎to reach SAR7.3 bn.‎

 

 

Market Wrap International:

The global equity markets were impacted by the closure of ‎the U.S market on account of Independence Day holiday. ‎However, investors digested the latest from the U.S release a ‎day earlier, the movement in yield in the U.S bonds and latest ‎announcement from China to place export ban on key metals ‎used in Chipmaking. The future contract on key U.S indices in ‎New York reflected a muted move with mere +0.1% change. ‎The data on manufacturing activity had the sharpest drop in ‎over three years, surprising estimates on the downside. ‎Meanwhile, the 10-2-year treasury spread widened to 1.08%, ‎showing the highest inversion in yields in over 42 years.‎

In Europe, the investors' attention remained on the movement ‎in the mortgage rate as 5-year mortgages in the U.K crossed ‎the 6% mark. The region was affected by the pushback from ‎China on trade battle with the U.S. The healthcare and real ‎estate came to the rescue for the Stoxx Europe 600 Index ‎which managed to close the session with minor gains of 0.1%.‎

In Asia, the key indices were broadly mixed. Uptick in yields in ‎the U.S weighed on investors sentiment in Japan where key ‎indices retreated by 0.6-0.1% from record high levels. Indices in ‎Hong, China, India and Taiwan rose in the range of 0.4-0.6%. ‎KOSPI in Korea fell by 0.4% due to the export ban by China.‎