Tadawul Review:

Tadawul All-Share Index (TASI) ended Thursday's session ‎down -25 points (-0.2%) to close at 10,548 levels. TASI began ‎the trading session on a muted note, but soon it rose in the ‎first hours of trading as it reached its intraday high at 17 ‎points. TASI then began to decline for the rest of the session ‎and closed at its intraday low. In general, 12 out of 20 sectors ‎closed in the red zone, while 89 stocks rose and 122 fell. ‎Banks (-0.2%), Energy (-0.4%), and Telecom (-0.6%) sectors ‎were the major drags on the index and contributed a total of ‎‎-13 points. Stocks-wise, Al Rajhi Bank (-0.7%), Aramco (-‎‎0.5%), and Maaden (-2.4%) pulled the index down the most. ‎The trading volume activity increased by 5% DoD to reach ‎‎166mn shares, while the trading value declined by 3% DoD to ‎reach SAR4bn. The index is expected to move sideways in ‎coming sessions.‎

 

 

Market Wrap International:

The global equity indices continued erasing the YTD gains amid ‎cautiousness over the interest rate outlook and geopolitical ‎tension between the U.S and China. The hawkish comment ‎from the Fed official were the major drag to the market. In ‎the U.S, the S&P 500 Index managed to pare intraday losses ‎of 1% to 0.3% at session close. The drop in yields in the ‎treasuries provided the push to market to recover ground. ‎Energy and tech dropped the most. The Nasdaq Composite ‎Index fell 0.6%.‎

In Europe, the Stoxx Europe 600 Index underwent a similar ‎trend of recovering from session lows (-1.2%) to close with ‎modest losses (-0.2%). Country level indices too recorded ‎minor losses (-0.0.3%).  Energy and tech names were the ‎major drags.‎

In Asia, markets digested the hawkish comments from the Fed ‎officials a day before and recorded a relatively bigger decline ‎at session close. The tech-heavy indices were particularly ‎under stress. The key indices were down 0.5-1.3%. HangSeng ‎and KOPSI were the two major underperformers in the ‎region.‎