Tadawul Review:

Tadawul All Share Index (TASI) fell for the seventh day on ‎Sunday by -62 (-0.5%) to settle at 11,154 level. TASI ‎continued throughout the session, reaching its intraday low ‎before minimizing its losses at the end of the session. In ‎general, 15 out of 20 sectors closed in the red zone, while ‎‎102 of 223 stocks fell and 112 rose. Banks (-0.6%), Utilities (-‎‎2.0%), and Energy (-0.6%) sectors contributed the most to ‎the index’s fall. Stockwise, Al Rajhi Bank (-0.9%), Aramco (-‎‎0.6%), and ACWA Power (-2.8%) were the major ‎contributors. The trading activity witnessed a decline in ‎volume and value of -19% and -24%, respectively, to reach ‎‎170mn shares ‎and SAR4.8bn in value traded.‎

 

 

Market Wrap International:

In the U.S, Last week's employment data further adds to this ‎narrative, revealing a resilient job market that, while strong, ‎did not raise significant concerns about the necessity for the ‎Federal Reserve to implement further interest rate hikes as a ‎measure against inflation. The investors are shifting their ‎attention to next week’s inflation data, as it has the potential ‎to influence the short-term direction of the equity rally, which ‎has shown some instability in recent weeks. ‎

In Europe, The Central Bank officials are set to discuss the ‎possibility of a quarter-point interest rate increase on ‎Thursday, with the outcome of the meeting in Frankfurt ‎playing a crucial role in the decision. The debate will ‎determine whether policymakers continue their trend of ‎raising borrowing costs for the tenth time in a row or choose ‎to take a pause. Additionally, the meeting is expected to ‎convey a message of potential hawkishness.‎

In Asia, among the upcoming economic data releases, a series ‎of figures from China is expected to attract significant ‎attention. The focus will be on industrial output and retail ‎sales, due  Friday. It is anticipated that both indicators will ‎show a slight improvement in August, which could potentially ‎serve as an early indication that the world's second-largest ‎economy is moving past its most challenging phase. thursday ‎morning in Asia will also see the reaction to overnight inflation ‎figures out of the US ripple through a range of asset classes.