2 Hrs
Source:
الاقتصادية
TASI adjusts amid bond yield rise
The Saudi stock market experienced a significant decline—the largest in over five months—as the "TASI" index fell by 1.3%, closing at 10,865 points. This marks the third consecutive session of decline and the largest daily loss since April. The drop came as the market resumed after the weekend holiday, amidst rising yields on fixed-income instruments, which exerted downward pressure on stocks and caused most companies and sectors, especially the energy and banking sectors, to decline. The decline was not accompanied by a strong increase in liquidity; trading value decreased by 7.7% to approximately 3.83 billion riyals. Meanwhile, trading volumes slightly increased, and the number of transactions continued to decrease, reflecting weak financial support and market concerns over the continuation of the corrective wave amid rising yields and the increased likelihood of interest rate hikes.
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