24 Hrs
Source:
الاقتصادية
June conflicts with start date, index declines
The Saudi stocks experienced the longest monthly decline streak since last year, as the Tadawul All Share Index (TASI) fell by 2.5% in June to close at 10,800 points. The total decline since the beginning of the year reached 4%, despite the market remaining up by 3% for the year so far. Liquidity was mainly concentrated on stocks with moderate P/E ratios between 10 and 20, but downward pressure stemmed from shifting expectations towards tightening monetary policy and rising interest rates, which reduce the market's ability to achieve sustainable gains. The market faced a contrary seasonal performance, with a decline in the second quarter despite historical market patterns that typically saw gains in June. The corporate earnings season begins next month, which is expected to influence the market's direction.
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