By: Bedour Al Raee
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) opened Monday’s trading with negative performance, pressured by the running geopolitical tensions and Donald Trump’s move regarding escalating the US-China trade war.
The latest escalation in the trade war between the world’s top two economies has sent a shudder of fear among markets against a backdrop of a global economic downturn.
The current geopolitical crisis and fiery statements by the US president, Donald Trump, continue to cast a shadow over the Saudi market, heading to break the 8,200 points due to random selling on some stocks, the economist Mohamed Al Maimouni told Mubasher.
By 11:40 am KSA time, the main Tadawul All-Share Index (TASI) declined by 0.52%, or 43.2 points, to 8,198.91 points.
TASI’s traded volume reached 22.98 million shares exchanged at a turnover of SAR 599.65 million through 24,208 transactions.
The banking sector topped the losers falling 0.92%.
Translated by: Kholoud Mohamed Hussein