1 Day
Source:
الاقتصادية
Saudi investors adjust sector holdings
The Saudi stocks ended a volatile week with a 2% decline, as the "TASI" index dropped to 10,590 points, marking the largest weekly decrease in three months. The losses were concentrated mainly in the banking sector, especially after bank share prices fell due to fluctuations in interest rates and the rising cost of liquidity (SAIBOR), which later eased following the Federal Reserve's decision. Despite the market downturn, trading values increased by 10.3% to 20.55 billion riyals, as investors repositioned their portfolios and focused on stocks with strong results. Corporate earnings played a significant role in the mixed performance of shares, with some companies experiencing substantial declines, while others benefited from solid results. The "TASI" index rebounded by 0.43% on Thursday, but the market remains under pressure from re-pricing factors. Greater stability in corporate earnings results and improved banking performance are needed to restore a broader upward corrective trend.
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