Tadawul Review:  

Tadawul All Share Index (TASI) fell on Tuesday, ‎dropping by 4 points (-0.04%) to close at 10,882. TASI ‎opened 7 points lower than the previous close and ‎gradually declined during the first hour. It then rose for ‎the rest of the session but pulled back before the close, ‎ending in the red zone. Overall, 10 out of 21 sectors ‎closed in the red zone, while 160 shares fell and 90 rose. ‎Materials (-0.4%), Energy (-0.3%), and Real Estate (-0.3%) ‎sectors contributed the most to the index fall. ‎Stockwise, Aramco (-0.3%), Riyad Bank (-0.7%), and ‎Saudi National Bank (-0.3%) were the major ‎contributors. The trading activity witnessed an increase ‎in volume and value of 19% and 4%, respectively, to ‎reach 257mn shares and SAR4.0bn in value traded.‎

 

 

Market Wrap International:

U.S. stocks fell on Tuesday, dragged lower by a sharp sell-off in technology shares as investors concerned overhigh valuations of AI stocks ahead of Federal Reserve Chair Powell’s Jackson Hole speech. The S&P 500 declined -0.6%, the Nasdaq Composite tumbled -1.5%, while the Dow Jones Industrial Average closed flat.

European stocks advanced, supported by strength in financials and optimism around Ukraine peace discussions. The CAC 40 gained 1.2%, the Euro STOXX 600 rose 0.7%, the DAX added 0.4%, and the FTSE 100 gained 0.3%.

Asian markets ended mixed, tracking Wall Street’s tech slump. The Nikkei 225 fell -0.4%, the KOSPI declined -0.8%, and the Hang Seng slipped -0.2%, while the SHCOMP slightly decreased -0.02.