Tadawul Review:

Tadawul All Share Index (TASI) rose on Thursday’s  session ‎by 59 points (+0.5%) to close at 11,451 levels. TASI opened ‎the session on a negative note by -17 points from the ‎previous close before starting to rise throughout until the end ‎‎.In general, 8 out of 20 sectors closed in the green zone, while ‎‎71 of 223 shares rose and 143 fell. Banks (+1.1%), Energy ‎‎(+1.7%), and Capital goods (+0.6%) sectors contributed the ‎most to the index's 58 point rise. Stockwise, Aramco (+1.7%), ‎Aramco (+1.0%), and Saudi National Bank (+1.1%) were the ‎major contributors. The trading activity witnessed an increase ‎in volume and value by 20% and 20%, respectively, to reach ‎‎232mn shares and SAR6.3bn in value traded.‎

 

 

Market Wrap International:

The global equity markets remained volatile on Friday amid ‎growing concerns on CHina economic recovery and possibility ‎of further interest rate by the Fed. In the U.S, the 10-year ‎yields softened a little after  hitting 2007 high a day earlier. ‎Investors are still digesting the details of minutes of the last ‎Fed meeting which hinted at the possibility of further rate hike ‎due to sticky inflation. The key equity indices in the U.S ‎managed to close with minor losses on the back of support ‎from energy and defensive names. The S&P 500 Index closed ‎almost flat after remaining volatile throughout the session. ‎Tech heavy Nasdaq Composite however recorded modest ‎losses.‎

In Europe, the Stoxx Europe 600 Index ended the session ‎lower by 0.6% with concerns over China economic recovery, ‎interest rate and latest economic data in the U.K.  Other ‎country level indices too moved in the same direction. The ‎retail sales data in the U.K showed the drop of 1.2% in sales ‎came ahead of the consensus forecast of 0.5% for the month ‎of July. ‎

in Asia, the major equity indices recorded losses in the range of ‎‎2.1-0.3% despite mixed economic data. The inflation data in ‎Japan carried a positive surprise. However, the data failed to ‎inpsire the markets. Meanwhile, CHina introduced a new set ‎of measures to support the stock market. Investors are closely ‎tracking the property market in China . The latest ‎development regarding filing of bankruptcy protection by ‎Evergrande Group, one of the latest property developers in ‎China, in the U.S over the weekend is likely to put more ‎pressure on Chinese stocks in particular and Asian names in ‎general.   ‎