The Saudi Stock Market opened its intercourse today, as the general index “Tassi” lost 0.5% to break the level of 11600 points, which is a technical resistance barrier, amid a variation in the performance of world markets as a result of the moral fluctuations to global trade forecasts and cautious statements of the federal reserve. The index scored 11570 points at the beginning of the session, with the shares of Aramco by 0.2% to 25.6 Riyals, Zain Saudi Arabia 0.5% to 13.02 Riyals, while Lucrev fell by 3% to 101 Riyal, and the National Bank 0.15% to 34.3 Riyals. Waddah, a member of the National Consultative Council of the Institute of Endowments Certified (CISI), said in an interview with ‘Al -Sharq’ that the most important workers in the Saudi Market’s association with its US counterpart oil and interest prices add that the impact of dead duties is still limited. He added: “Oil prices are stable, and interest data indicates a balance, and in addition, the results of companies are good and there is a momentum in initial proposals, especially in Saudi Arabia, which adds depth to the market.” The fluctuations of world markets The Wall Street were a sharp decline in yesterday’s session, as the S&P500 (S&P 500) lost about 2.2%, and the Nasdaq 100 index of about 3%, which was affected by the losses of the technological sector, especially after imposing restrictions on the “invitation” to China. Federal Reserve President Jerome Powell said commercial tensions could hinder the goals of the central bank associated with employment and price stability, which increased the fluctuations of US markets. But on the other hand, the Asian markets closed on profits, especially in Japan and Hong Kong, supported by US President Donald Trump on the progress of commercial discussions with Japan, the new customs duties facilitated problems. In another intervention with the ‘East’, Ikrami Abdullah, the chief financial analyst of the newspaper ‘al -iqtisadiah’, said that the Saudi market is being exposed to different pressure today, explaining that “the decline in the US markets will affect negatively, but that a balance with the high oil prices can occur after sanctions on Iran and the decrease.” Oil supports the morale The oil markets received support after an indication of China’s openness to negotiate with Washington against fees, as well as a possible stumbling in core talks with Iran. The ‘Brent’ ore, June delivery, rose 1.8% to $ 65.85 a barrel, while the interim contracts “Western Texas” rose 1.9% to settle nearly $ 62.50, with the third profits in four sessions.
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