Tadawul Review: ‎

Tadawul All Share Index (TASI) fell on Wednesday, dropping 2 points (-0.02%) to close at 10,779.96. The index opened 1 points above its previous close, but it recovered some losses before the close; however, it still ended in the red zone. Overall, 11 out of 21 sectors closed in the red zone, and 113 shares rose while 147 fell. Banks (-0.2%), Food & Beverages (-1.5%), and Insurance (-1.2%) sectors contributed the most to the index decline. Stockwise, Alrajhi (-0.5%) and Almarai (-2.1%) were the major contributors to the index decline. The trading activity witnessed a decrease in volume and value of -27% and -24%, respectively, to reach 168mn shares and SAR 3.5bn in value traded.

 

 

Market Wrap International:  

U.S. equities ended lower as the Federal Reserve’s rate decision ‎reinforced concerns over persistent inflation and the possibility ‎of further policy tightening, pushing Treasury yields higher and ‎weighing particularly on financials and rate-sensitive stocks. The ‎Fed raised its policy rate by 25 basis points, while its guidance ‎pointed to another increase later in the year, keeping pressure ‎on risk assets despite technology shares remaining relatively ‎resilient. The S&P 500 declined 0.4%, the Dow Jones Industrial ‎Average fell 1.2%, and the NASDAQ edged down 0.01%.‎

European equities ended higher as a pause in oil prices eased ‎some inflation concerns, while technology and cyclical shares ‎supported the broader recovery ahead of the U.S. Federal ‎Reserve decision. Lower bond yields also helped improve risk ‎sentiment, with technology, industrials and travel-related stocks ‎among the areas providing support, while energy shares lagged ‎as crude prices retreated. The FTSE 100 gained 0.3%, the DAX ‎rose 0.5%, the CAC 40 advanced 0.6%, and the EURO STOXX ‎‎600 increased 0.5%.‎

Asian markets are trading higher overall as investors assessed the ‎Federal Reserve’s rate hike and the resulting stabilization in ‎global bond markets, while softer oil prices provided additional ‎support for regional risk appetite. South Korean equities were ‎supported by gains in defense, aerospace and shipbuilding stocks ‎despite continued foreign selling, while Japan benefited from a ‎weaker yen and strength in pharmaceutical and machinery ‎shares; Chinese equities were more subdued and Hong Kong ‎remained mixed. The SHCOMP is up 0.7%, the KOSPI is higher ‎by 1.4%, the Nikkei 225 has gained 0.7%, and the Hang Seng has ‎risen 0.2%.‎