2023-05-30
Daily Market Monitor 30-05-2023
Tadawul Review:
Tadawul All Share Index (TASI) remained unchanged on Monday’s session, with a minor decline by -3 points from the previous close to settle at 11,136 levels. TASI opened the session positively by 1 point, and reached a highest levels of the day by 33 points during the early trading hours. However, TASI continued fluctuating during the rest of the session. 8 out of 20 sectors closed in the red zone, while 94 stocks fell and 112 rose. Energy (-0.6%), Utilities (-0.7%), and Health care equipment and services (-0.7%) sectors contributed the most to the index's -10 point fall. Stockwise, Aramco (-0.6%), ACWA Power (-1.1%), and Saudi Research (-2.9%) were the major contributors. The trading activity stayed at the same volume as yesterday’s while witnessing an increase in value of 2% to reach 157mn shares and SAR4.8bn in value traded.
The global equity markets moved in divergent directions on Monday with volumes affected by market closures on both sides of the Atlantic. In the U.S, the equity markets were closed for trading on Monday. The resolution of the debt ceiling crisis over the weekend remains a major positive trigger for the investors when the market opens on Tuesday. The futures on main indices in the U.S listed in other regions were trading positive on Monday.
In Europe, the Stoxx Europe 600 Index declined by 0.1% and the Trading volumes remained thin due to suspension of trading in the U.K. The other country level indices in the region were down by 0.1-0.2%.
In Asia, the key equity gauges moved sideways. The follow through impact from the upgrade in demand outlook for AI related equipment in parts pushed the tech stocks and tech-heavy indices in the region higher. Taiex in Taiwan jumped 0.8% alongside Topix in Japan (+0.7%, foreign buying and SENSEX in India (+0.6%). Indices in China (Shanghai Composite: +0.3%) while Hang Seng was down by -1%) were down due to concerns on economic growth. Kospi in Korea was closed for trading on Monday.
Daily Market Monitor 30-05-2023
Download Arabic file
