Tadawul Review:

Tadawul All Share Index (TASI) fell ‎by -20 points (-0.2%) on ‎Wednesday’s session to close at 11,393 levels. TASI opened ‎‎the session on a negative note by -22 points from the ‎‎previous close, However, after the initial dip, TASI made a ‎recovery ‎to rise to intraday high of 75points from the ‎previous close only to decline again towards the session close. ‎In general, 12 out of 20 sectors ‎closed in the red zone, while ‎‎124 of 223 shares fell and 82 ‎rose. Banks (-0.6%), Health care ‎equipment and services (-‎‎1.3%), and Materials (-0.2%) ‎sectors contributed the most to ‎the index's -29 point fall. ‎Stockwise, Saudi National Bank (-‎‎1.0%), Al Rajhi Bank (-‎‎0.4%), and Saudi Awwal Bank (-2.0%) ‎were the major ‎contributors. The trading volume ‎activity declined by -2% ‎DoD to reach 194mn shares, while ‎the trading value ‎increased by +3% DoD to reach SAR5.3bn.‎

 

 

Market Wrap International:

The stocks in U.S wavered between smalls gains and losses ‎Wednesday, as investors digested deepening concerns about ‎the Chinese economy and awaited further clues on the ‎monetary-policy outlook at home. The yields on 2-10-year ‎tenures rose by 3-6 bps. The S&P 500 Index closed the session ‎at -0.8% with 10 of ‎11 listed sectors dropped. while Nasdaq ‎closed at -1.1%.‎

In Europe, equities experienced a period of fluctuation, ‎between modest gains and losses as growing pessimism around ‎China’s economic outlook prompted caution among investors. ‎Higher-than-expected UK inflation data also weighed on ‎sentiment.. The Stoxx Europe 600 Index was down by 0.1% ‎and in UK FTSE 100 index was down too (-0.4%). The country-‎level indices were in a range of -0.1%|0.1%.‎

In Asia, pressure is building across Chinese financial markets, ‎with a credit crunch for developers worsening while a crisis ‎unfolds in the nation’s shadow banking system. The CSI 300 ‎Index is on track to erase all of its gains since a key political ‎meeting in July raised expectations for policy support. ‎SHCOMP and Hang Seng went down by 0.8% and 1.4% ‎respectively. Equity indices in Japan also registered another ‎session of losses (TOPIX:-1.3%, NIKKEI 225:-1.5%) after the ‎bond market signals concern that volatility will rise around the ‎time of the Bank of Japan’s September meeting. The country-‎level indices moved in the range of -1.8%|0.2%.‎