Tadawul Review: 

Tadawul All-Share Index (TASI) closed positively on ‎Tuesday’s session by 10 points (0.1%) to settle at 11,431 ‎levels. TASI started Tuesday’s session on a negative note (-26 ‎points) and dropped to its intraday low of -67 points in the ‎first trading hours. However, TASI then started to rise till the ‎end of the session to close at its intraday high. In general, 14 ‎out of 20 sectors closed in the green zone, while 119 stocks ‎rose and 81 fell. Insurance (+1.3%), Retailing (+1.3%), and ‎Telecom (+0.5%) sectors contributed the most to the index's ‎‎+9 point rise. Stocks-wise, Etihad Etisalat (+1.9%), Jabal ‎Omar (+1.8%), and Aramco (+0.2%) were the major ‎contributors. The trading activity witnessed a decline in ‎volume and value of -23% and -6%, respectively, to reach ‎‎234mn shares and SAR5.7bn in value traded.‎

 

 

Market Wrap International:

The global equity markets trimmed recent gains with the ‎economic data and disappointment over the progress on ‎rollout of expected stimulus package in China. In the U.S, the ‎housing report (housing start) exceeded expectations by a big ‎margin, fueling concerns the recent pause by Fed may prove to ‎be short-lived. The sovereign yields in the U.S, however, came ‎off from recent highs by 3-4bps. The key equity indices, ‎S&P 500 and Nasdaq Composite lost 0.5-0.2% over new data. ‎Energy, materials and financials were the three biggest drags ‎on the S&P 500 index.‎

In Europe, the Stoxx Europe 600 Index sustained yet another ‎day of downside volatility and fell by 0.6% The country level ‎indices too were weak and dropped by 0.3-0.6% Besides global ‎macro drivers, the region’s equity benchmarks were also ‎impacted by concerns over inflation and the future interest ‎rate direction.‎

In Asia, Hang Seng (-1.5%) and Shanghai Composite (-0.5%) ‎dragged the regional benchmarks down with investors ‎exhibiting concern son the recent change in management tin ‎Ali Baba and disappointment over cut in mortgage rates by ‎banks in mainland China , a step seen as crucial to support ‎the real estate market. Other equity benchmarks were down ‎in the range of 0.2-0.5%‎‎