Tadawul Review: ‎

Tadawul All Share Index (TASI) fell on Tuesday, dropping 1 points (-0.01%) to close at 10,680.61. The index opened 16 points below its previous close, but it recovered some losses before the close; however, it still ended in the red zone. Overall, 7 out of 21 sectors closed in the red zone, and 195 shares rose while 63 fell. Banks (-0.8%), Energy (-0.2%), and Capital Goods (-0.4%) sectors contributed the most to the index decline. Stockwise, Alrajhi (-2.4%), Saudi Aramco (-0.2%), and Petro Rabigh (-4.0%) were the major contributors to the index decline. The trading activity witnessed a decrease in volume and value of -16% and -11%, respectively, to reach 167mn shares and SAR 3.2bn in value traded.

 

 

 

Market Wrap International:  

U.S. equities ended lower as rising oil prices and a stronger-than-expected acceleration in U.S. business activity pushed Treasury yields higher, reinforcing expectations that the Federal Reserve could raise interest rates again at its next meeting. Technology shares came under pressure, with Alphabet and Amazon declining while the Philadelphia semiconductor index fell, although energy stocks advanced as crude prices rose. The S&P 500 fell -0.8%, the Dow Jones Industrial Average declined -0.7%, and the NASDAQ dropped -1.1%.

European equities ended lower as oil prices rebounded above $100 a barrel and renewed concerns over Middle East supply risks pushed government bond yields higher, offsetting earlier support from stronger eurozone business activity data. Energy shares outperformed as crude recovered, while banks, insurers, and construction and materials stocks weakened amid the rise in rates. The FTSE 100 fell -0.03%, the DAX declined -0.7%, the CAC 40 slipped -0.4%, and the EURO STOXX 600 eased -0.4%.

 

Asian markets are trading mixed as investors absorb Wall Street’s decline, higher U.S. Treasury yields, and renewed oil-price volatility, while regional technology shares remain uneven. Japan reopened after a three-day holiday with the Nikkei 225 advancing as technology and AI-related shares provided support, while Hong Kong and mainland Chinese equities remained weaker as higher global yields weighed on growth stocks. The Shanghai Composite fell -0.4% and the Hang Seng declined -1.0%, while South Korea’s KOSPI had gained 0.9% in its latest session before the market closed for the Chuseok holiday; the Nikkei 225 was trading 1.3% higher.