Tadawul Review:

Tadawul All-Share Index (TASI) declined on Monday by -123 ‎points (-1.1%) and ended the session below the 11,000 level ‎for the first time in about two months to settle at the level of ‎‎10,931. TASI opened the session negatively, down 19 points ‎from the previous close, and continued its decline until the ‎end of the session, reaching its intraday low and recording ‎losses of -176 points. But TASI managed to reduce some of ‎its losses in the last half hour of the normal trading hours, ‎adding 36 points and another 18 points in the closing auction. ‎In general, all sectors except for three closed in the red zone, ‎while 32 stocks rose and 174 fell. Banks (-0.9%), Materials (-‎‎1.7%), and Energy (-1.6%) sectors were the major drags on ‎the index and contributed a total of -78 points. Stocks-wise, ‎Aramco (-1.6%), Saudi National Bank (-1.9%), and Alinma ‎Bank (-3.2%) pulled the index down the most. The trading ‎activity witnessed an improvement in volume and value by ‎‎18% and 28%, respectively, to reach 102mn shares and ‎SAR4bn. ‎

 

 

Market Wrap International:

The global equity markets moved lower on Monday with the ‎latest COVID updates in China and Fed Speak making ‎investors more cautious. The story of the global equity returns ‎in recent session appear to be turning on its head with the ‎latest updates on the two key drivers. The currency woes for ‎EM is once again back in the limelight though treasury yields ‎remained largely stable. In the U.S, the benchmark S&P500 ‎and Nasdaq Composite Index dropped by ‎‏0.4‏‎% and ‎‏1.1‏‎%. ‎Energy and Consumer Discretionary were the big drags on the ‎index performance.‎

In Europe, the Stoxx Euro 600 Index struggled to keep ‎intraday gains but pared its gains to close with ‎‏0.1‏‎% loss. ‎Energy, mining, and Industrial were the major ‎underperformers for the session. Country-level indices closed ‎with losses.‎

In Asia, all major indices closed with losses on Monday with ‎updates on COVID-19 making investors nervous over ‎continuation or recent relaxation measures. HangSeng (-1.9%), ‎KOSPI (-1%) SENSEX (-0.8%) were the worst hit by the ‎updates. Other markets moved down by -0.‎‏2‏‎-0.4% for the ‎session.  Energy, tech and travel & leisure names were the ‎biggest losers for the session.‎ ‎