Tadawul Review:

Tadawul All Share Index (TASI) fell on Wednesday, dropping ‎by -135 points (-1.2%) to close at 11,304. TASI started the ‎session on a negative note, opening 17 points lower than the ‎previous close and continued to decline throughout the ‎session, ultimately closing at the day's lowest point. Overall, 20 out of 21 sectors closed in the red zone, while 206 shares ‎fell and 37 rose. Banks (-1.3%), Materials (-1.7%), and ‎Utilities (-3.5%) sectors contributed the most to the index ‎fall. Stockwise, Al Rajhi Bank (-1.4%), ACWA Power (-4.4%), ‎and Saudi National Bank (-2.4%) were the major ‎contributors. The trading activity witnessed a decrease in ‎volume and value of -7% and -10%, respectively, to reach ‎‎182mn shares and SAR4.3bn in value traded.‎

 

 

 

Market Wrap International:

U.S. stocks suffered their steepest losses in a month on Wednesday, as concerns over the nation’s ballooning deficit rattled markets. A weak $16 billion Treasury auction reflected fading demand for U.S. debt, fueling a sharp rise in yields that pressured equities across the board. Small-cap stocks were hit particularly hard. Sectors like Real Estate (-2.63%), Health Care (-2.37%), and Financials (-2.05%) led the declines, as investors grew increasingly uneasy about the fiscal impact of a proposed budget bill. The Nasdaq declined by -1.4%, the S&P 500 fell by -1.6%, and the Dow Jones Industrial Average dropped by -1.9%.

European markets ended the day mixed, weighed down by a rise in UK inflation and fresh warnings from the European Central Bank about potential financial stability risks. The FTSE 100 increased by 0.1% and the DAX rose by 0.4%. In contrast, the Euro STOXX 600 dropped by -0.04% and the CAC 40 declined by -0.4%.

 

Asian markets traded mostly higher, shrugging off weak leads from Wall Street. Despite the overnight sell-off in U.S. equities, some investors continued to capitalize on the recent upward momentum seen across regional markets in recent weeks. The SHCOMP advanced by 0.2%, the Hang Seng increased by 0.6%, and the KOSPI advanced by 0.9%, while the Nikkei 225 dropped by -0.6%.