Tadawul Review: 

Tadawul All Share Index (TASI) moved down on Monday’s ‎session by -118 points (-1.0%) to close at 11,230 levels. TASI ‎opened the session negatively, down by 1 points from the ‎previous close. The index initially rose by 7 points in the first ‎trading hour, before it starting its descend over the rest of ‎the session to close at its intraday low. In general, 11 out of ‎‎20 sectors closed in the red zone, while 113 stocks fell and 96 ‎rose. Banks (-1.8%), Energy (-1.7%), and Materials (-0.5%) ‎sectors contributed the most to the index's fall by -93 points. ‎Among stocks , Aramco (-1.8%), Saudi National Bank (-‎‎2.63%), and Al Rajhi Bank (-1.1%) contributed the most to ‎the fall of the index. The trading activity witnessed an ‎increase in volume and value by 43% and 39%, respectively, ‎to reach 221mn shares and SAR6.3bn in value traded. With ‎no major trigger on the horizon and volatility in oil prices, the ‎index is likely to remain directionless in the next few ‎sessions. ‎

 

 

Market Wrap International:

 The global equity markets changed direction on Monday on ‎optimism on smooth resolution of debt ceiling in the U.S, strong ‎earnings and talks of further support measures in China. In the U.S, ‎the benchmarks S&P 500 Index and Nasdaq Composite rose by ‎‏0.3‏‎ ‎and ‎‏0.7‏‎% on Monday. Materials, financials and tech were the ‎major gainers. The sovereign yields in the U.S ticked up with 2-yr ‎bond settling above 4% mark again.‎

In Europe, the Stoxx Europe 600 Index ended its three-day losing ‎streak and rose ‎‏0.3‏‎% inspired by the earnings announcement. Equity ‎benchmarks in Germany (DAX:+.02%) and France (CAC 40:+.05%) ‎were broadly unchanged while FTSE-100 in the U.K rose by 0.3%.‎

In Asia, key equity benchmarks were positive for a variety of ‎reasons. Topix in Japan jumped 0.9% on strong earnings from ‎Financials and slowdown in inflaiton. The index is trading close to ‎its high seen in 1990. In China, Hang Seng (+1.8%) and Shanghai ‎Composite (+1.2%) posted strong performance on hopes of new ‎support measures for the financial and economy. Indices in South ‎Korea (KOSPI:+0.2%) and India (SENSEX:+0.‎‏5‏‎%) also closed higher. ‎