Tadawul Review:

Tadawul All Share Index (TASI) ended its three-day winning ‎streak on Tuesday, falling 101 points (-0.8%) to close at ‎‎11,974 levels. TASI started the session on Tuesday at the ‎same level as the previous close and made an intraday high ‎of +24 points. TASI started its decline for the rest of the ‎normal trading hours to lose the levels of 11,908, down 166 ‎points from before the closing auction. At the closing auction, ‎the index was able to trim some of its losses by adding 65 ‎points. In general, all sectors were closed in the red zone ‎except for the Telecom sector, while 43 shares rose and 170 ‎shares fell. The decline was led by the Banks sector (-0.5%), ‎followed by Energy (-2%), and Materials (3.6%). Altogether, ‎the aforementioned sectors contributed to the decline of the ‎index by 55 points. Amongst stocks, Aramco (-2.1%), ACWA ‎Power (-3.4%), and Saudi National Bank (-0.6%) stocks pulled ‎the index down the most. The trading volume activity ‎increased by +11% DoD to reach 165mn shares, while the ‎trading value decreased by -4% DoD to reach SAR6.3bn. The ‎index is likely to move around 12,000 mark in near-term. ‎‎

 

 

 

Market Wrap International:

The global equity indices surged on Tuesday amid strong ‎sentiments on the ongoing result season. The gas prices in ‎Europe and the latest leadership changes in China also ‎remained in the limelight. The U.S treasury yields S retreated ‎for the second consecutive session. In the U.S, the benchmark ‎indices jumped by ‎‏1.1‏‎-‎‏2‏‎.‎‏3‏‎% led by positive earnings surprises ‎and optimism over tech earnings due this week. Except for ‎energy, all industrial sectors listed on the S&P 500 moved ‎higher led by real estate and communication.

 ‎In Europe, the initial cautiousness in the trading hours gave to ‎positive sentiment around the drop in gas prices in the region ‎and ahead of the policy rate announcement by the ECB on ‎Thursday.  Earnings seasons and clarity over leadership roles in ‎the U.K were the other two major drivers for stock prices. The ‎Stoxx Euro 600 Index closed higher by 1.‎‏4‏‎% at the session ‎close led by financials, real estate and technology. ‎

 

In Asia, the ripple effects of the changes in leadership position ‎in China continued for the second straight session. HangSeng ‎Index in Hong Kong,  China Composite in China and KOSPI in ‎Korea were little changed. Equity indices in Japan (Nikkei 225, ‎TOPIX) was the major outlier in the region with 1-1.1% gains ‎for the session. TAIE in Taiwan (-1.5%), and SENSEX (-0.‎‏5‏‎%) ‎in India were the two other major drags in the region.‎