Tadawul Review:

Tadawul All Share Index (TASI) fell for the third day on ‎Monday’s session by -97 points (-0.8%) to close at 11,692 ‎levels. TASI started the trading session with a negative ‎opening of -3 points from the previous day's close, and the ‎downward trend persisted, with the index reaching its lowest ‎point at the start of the day. However, TASI remained steady ‎during the remainder of the session. In general, 13 out of 20 ‎sectors closed in the red zone, while 142 of 223 shares fell ‎and 70 rose. Banks (-1.5%), Telecom (-3.1%), and Materials (-‎‎0.7%) sectors contributed the most to the index's -89-point ‎fall. Stockwise, Saudi National Bank (-2.9%), Saudi Telecom ‎‎(-4.4%), and Riyad Bank (-2.8%) were the major contributors. ‎The trading activity witnessed an increase in volume and ‎value by 25% and 22%, respectively, to reach 216mn shares ‎and SAR5.9bn in value traded.‎

 

Market Wrap International:

The global equity markets closed the month on a positive note ‎amid results announcement and renewed optimism over the ‎end of rate hike campaign and fresh measures in China to ‎boost the economic growth. In the U.S, the ongoing result ‎season remained a major focus area for investors, a  week ‎after the FOMC meeting. The sovereign yields were broadly ‎stable. Besides results, investors are looking at the upcoming ‎economic data on the labor market to further substantiate the ‎market ‘s view of the likely end of Fed rate hike campaign.‎

In Europe, the Stoxx Europe 600 Index rose by nominal ‎‏0.1‏‎% ‎to cap another month of positive return. The earnings results ‎painted a mixed picture , however, the benchmark managed ‎to remain positive due to strong performance in energy and ‎health.‎

In Asia, the major markets were in for a rally on Monday with ‎easing investors’ concerns on change in monetary policy in ‎Japan and the announcement to incremental steps by Chinese ‎authorities to support economic growth. The equity indices in ‎Japan were the major outliers with Nikkei 225 and Topix ‎rising by respectively 1.3% and 1.4%. In China, CSI300 (+0.6) ‎and Hang Seng (+0.8%) registered another session of positive ‎return. TAIEX was the only major equity benchmark which ‎faced a drop (-0.9%). Other markets jumped din the range of ‎‎0.‎‏5‏‎-0.9%.‎