Tadawul Review:

Tadawul All-Share Index (TASI) declined on Sunday for the ‎fifth consecutive session by -143 points (-1.3%), to close at ‎‎10,559 levels. Sunday's drop was driven by lower Brent crude ‎oil prices and global markets indices. TASI opened the session ‎negatively and continued its decline for the rest of the ‎session, as it was trading in the range of 156. In general, 17 ‎out of 20 sectors closed in the red zone, while 46 stocks rose ‎and 171 fell. Banks (-1.5%), Materials (-1.6%), and Energy (-‎‎1.5%) sectors were the major drags on the index and ‎contributed a total of -98 points. Stocks-wise, Al Rajhi Bank ‎‎(-1.9%), Aramco (-1.5%), and Riyad Bank (-3.5%) pulled the ‎index down the most. The trading volume activity increased ‎by 24% DoD to reach 213mn shares, while the trading value ‎declined by 7% DoD to reach SAR3.8bn. TASI likely will ‎continue to declining due to the fluctuations in Brent oil ‎prices as well as investors' cautiousness about the company's' ‎financial results season.‎

 

 

Market Wrap International:

The global equity markets are set to undergo a brief period of ‎nervousness over the direction of interest rate following the ‎latest economic data in the U.S. Last week proved to be a ‎very happening period for the investors with policy decisions ‎from three global central banks, economic data and results. ‎Investors had become relatively confident and comfortable on ‎the likely direction of interest rates and the timing of policy ‎easing. However, the base view of the market is undergoing a ‎shift once again and may produce more bouts of downside ‎volatility. This particularly may apply to markets with a strong ‎performance in near-term. In the U.S, the investors are likely ‎to once again focus on FedSpeak , the minutes of the latest ‎FOMC meeting and economic data to draw further guidance ‎on the peak rate and the timing of policy easing. Major ‎economic data due next week include consumer sentiment ‎index and initial jobless claims.‎

In Europe, indices will likely digest the latest economic data in ‎the U.S. A strong performance in recent session, currency ‎movement and surprises in earnings season may force the ‎market to show a more pronounced reaction.‎

In Asia, while the new update in the U.S remains a drag for at ‎least in the initial part of week, investors will likely focus on ‎data from China (strength of post COVID economic ‎momentum) and Japan (currency) to make a view on future ‎direction of the two largest economies in the region. Currency ‎of Emerging markets in the region and Japan will be in ‎limelight as yields in the U.S recover. ‎