20 Hrs
Source:
الاقتصادية
_1777294237270_124456903.png&w=64&q=75){kind=small}
Funding costs impact TASI as 48 firms test lows
Saudi stocks declined today, with the TASI index dropping by 0.6% to close at 10,682 points. The main reason was the rise in short-term financing costs, especially the Saudi Interbank Offer Rate (SIBOR) reaching its highest level in two months, which increased pressure on highly indebted companies, particularly those with high leverage. Although the yield on the ten-year Saudi bond fell to 5.69%, the increase in short-term borrowing costs continued to put downward pressure on stock prices, with 48 companies reaching their lowest levels of the year. This reflects widespread weakness across various sectors and indicates that the market is under pressure from internal financial costs, not just long-term yield valuations.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)