Tadawul Review: ‎

Tadawul All Share Index (TASI) fell on Thursday, ‎dropping 166 points (-1.57%) to close at 10,376.28. The ‎index opened 2 points below its previous close, but it ‎recovered some losses before the close; however, it still ‎ended in the red zone. Overall, 21 out of 21 sectors ‎closed in the red zone, and 14 shares rose while 246 ‎fell. Banks (-1.8%), Materials (-1.3%), and Utilities (-3.0%) ‎sectors contributed the most to the index decline. ‎Stockwise, Alrajhi (-1.4%), SNB (-3.1%), and ACWA ‎Power (-3.6%) were the major contributors to the index ‎decline. The trading activity witnessed an increase in ‎volume and value of +21% and +50%, respectively, to ‎reach 218mn shares and SAR 4.4bn in value traded.‎

 

Market Wrap International:  

U.S. equities ended lower as rising Treasury yields and renewed ‎inflation concerns weighed on risk appetite, while investors ‎assessed the Federal Reserve’s latest meeting minutes and the ‎prospect of further rate increases. The minutes showed ‎policymakers divided over the rationale for the recent rate hike, ‎although several officials saw another increase as potentially ‎appropriate, keeping the focus on the path of monetary policy. ‎The S&P 500 declined by -0.2%, the Dow Jones Industrial ‎Average fell -0.7%, and the NASDAQ eased -0.2%.‎

European equities ended lower as rising oil prices and bond ‎yields renewed concerns over persistent inflation and tighter ‎financial conditions. Banks were the weakest sector, falling 3.3%, ‎while technology shares also retreated, and fiscal concerns in ‎France added pressure to regional bond and equity markets. The ‎FTSE 100 fell -0.8%, the DAX declined -1.4%, the CAC 40 ‎dropped -1.2%, and the EURO STOXX 600 lost -1.0%.‎

Asian markets are trading lower as higher global yields, elevated ‎oil prices and renewed concerns over inflation weighed on risk ‎appetite, with technology and semiconductor shares under ‎pressure. South Korean equities led the regional declines, while ‎Japanese shares also retreated after the weaker Wall Street ‎session and continued concerns over global borrowing costs. ‎The KOSPI dropped -2.0%, the Nikkei 225 fell -0.9%, and the ‎Hang Seng declined -0.6%; the Shanghai Composite was closed ‎for China’s National Day holiday.‎