Tadawul Review: ‎

Tadawul All Share Index (TASI) fell on Sunday, dropping 28 points (-0.26%) to close at 10,749.51. The index opened 22 points below its previous close, but it recovered some losses before the close; however, it still ended in the red zone. Overall, 18 out of 21 sectors closed in the red zone, and 45 shares rose while 216 fell. Banks (-0.3%), Utilities (-2.1%), and Insurance (-2.5%) sectors contributed the most to the index decline. Stockwise, ACWA Power (-2.8%), BSF (-2.5%), and Alinma (-1.3%) were the major contributors to the index decline. The trading activity witnessed a decrease in volume and value of -34% and -51%, respectively, to reach 149mn shares and SAR 2.6bn in value traded.

 

Market Wrap International:  

U.S. equities ended mixed as investors assessed the Federal Reserve’s recent rate hike and signals of further tightening, while Treasury yields pushed above 5% and oil remained above $100 a barrel, keeping inflation and borrowing costs at the center of market attention. Semiconductor shares supported technology stocks, helping the NASDAQ and S&P 500 recover late in the session, while the Dow Jones Industrial Average was weighed by broader weakness. Major markets therefore closed the week with a cautious tone as investors continued to assess the path of rates and the impact of elevated energy costs. European markets faced broader pressure as higher global borrowing costs and renewed concerns over inflation weighed on risk appetite, while weakness in automobiles and telecommunications led the decline. Volkswagen cut its outlook amid charges, a weaker Chinese market and restructuring costs, while healthcare and insurance provided some relative support. The FTSE 100 and DAX were among the major regional markets under pressure, while the broader EURO STOXX 600 also declined. Across Asia, the previous session remained relatively steady as markets absorbed the Federal Reserve and Bank of Japan rate decisions, with regional equities supported by the positive late-session lead from Wall Street. The BOJ raised rates to a 31-year high, while higher global rates and oil prices continued to pose risks for Asian currencies and inflation-sensitive economies; investors also monitored developments around U.S.-China trade, AI and semiconductor policy.