Tadawul Review:

Tadawul All Share Index (TASI) ended the first day of August ‎negatively on Tuesday by -56 points (-0.5%) to close at ‎‎11,636 levels. TASI opened the session on a negative note of ‎‎-17 points from the previous day's close then the index ‎increased reaching its intraday peak in the first trading ‎hour.However, Despite the initial jump, TASI started to ‎decline gradually until the end of the session. In general, 11 ‎out of 20 sectors closed in the red zone, while 119 of 223 ‎shares fell and 87 rose. Banks (-0.4%), Materials (-0.7%), and ‎Telecom (-1.3%) sectors contributed the most to the index's -‎‎35-point fall. Stockwise, Aramco (-0.5%), Saudi Telecom (-‎‎1.2%), and Almarai (-1.9%) were the major contributors. The ‎trading activity witnessed a decline in volume and value by -‎‎1% and -8%, respectively, to reach 213mn shares and ‎SAR5.4bn in value traded.‎

 

 

 

Market Wrap International:

The global equity markets moved sideways on Tuesday as ‎investors evaluated positioning and valuation following the ‎close of very productive months across the region. In the U.S, ‎the key indices took a move by a marginal -0.4%|+0.2%. The ‎S&P 500 Index closed the session with 0.3% with 9 out of ‎eleven listed sectors registering drop. The earnings season in ‎the U.S has been uneventful so far. All eyes are on the ‎upcoming results of two big tech firms (Apple, Amazon) due ‎on Thursday.‎

In Europe, the equity markets broadly came under pressure ‎due to a weak set of corporate results. The benchmark Stoxx ‎Europe 600   fell by 0.9% on Tuesday. The country level indices ‎were also down in the range of 0.4-1.3%.‎

In Asia, the release of economic data in China (Caixin ‎manufacturing purchase manager index) came in below ‎consensus expectations and highlighted the tough task facing ‎the authorities to support economic growth. CSI 300 and ‎Hang Seng fell by respectively 0.4% and 0.3%. Kospi was a ‎major performer with 1.3% gains along with Taiex (+0.4%) and ‎Topix (+0.6%).‎