Tadawul Review:

Tadawul All Share Index (TASI) closed negatively on ‎Wednesday for the fifth consecutive day by -113 (-1.0%) to ‎close at the 11,298 level. TASI opened the session negatively ‎by -7 points, and continued declining gradually until the end ‎of the session. In general, 14 out of 20 sectors closed in the ‎red zone, while 159 of 223 shares fell and 56 rose. Banks (-‎‎0.9%), Telecom (-2.1%), and Utilities (-3.2%) sectors ‎contributed the most to the index fall. Stockwise, ACWA ‎Power (-4.0%), Saudi Telecom (-2.2%), and Saudi National ‎Bank (-1.0%) were the major contributors. The trading ‎activity witnessed an increase in volume and value by 11% ‎and 7%, respectively, to reach 212mn shares ‎and SAR6.2bn in ‎value traded.‎

 

 

Market Wrap International:

In the U.S, S&P 500 was down by (-0.7%) with 9 out of 11 ‎listed sectors dropping as investors remained cautious due to ‎concerns about persistent inflation. The market was on edge ‎in anticipation of crucial data, including the Federal Reserve's ‎report on the U.S. economy, as the outcome could help ‎determine the bank's interest rate path. The ‎Nasdaq ‎Composite was down too by -1.1% and the yields on 2-10-‎year tenures fell by -0.2|+1.3bps.‎

In Europe, the Stoxx Europe 600 declined by (-0.6) as ‎concerns over a global economic slowdown and higher crude ‎prices weighed on market sentiment and FTSE ‎‎100 was down ‎by (-0.2%) while the other country-level indices were up in ‎a ‎range between of -0.2%|-0.8 %.‎ Meanwhile, the Governing ‎Council member Klaas Knot believes investors are ‎underestimating the possibility of an interest-rate increase.‎

In Asia, Chinese investor sentiment was unsettled as a result of ‎a recent private-sector survey indicating that services activity ‎expanded at its most sluggish rate in eight months during ‎August. The Hang Seng Index closed slightly down by 150 ‎points and China's benchmark CSI300 fell by 0.22%, ahead of ‎data that proved exports contracted at a slower pace in ‎August while SHCOMP rose by 0.12%. ‎Benchmarks in Japan ‎made sizeable gains (TOPIX 0.6| NIKKEI 225 0.6%). Other ‎major indices in the region were up in ‎the range of -0.7|0.2. ‎The yuan closes at its lowest price against the U.S. dollar in 16 ‎year