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Saudi Stock Index Loses Nearly 1,000 Points within a Week

The Saudi stock market recorded a sharp decline during the week’s trading. (Asharq Al-Awsat)
The Saudi stock market recorded a sharp decline during the week’s trading. (Asharq Al-Awsat)
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Saudi Stock Index Loses Nearly 1,000 Points within a Week

The Saudi stock market recorded a sharp decline during the week’s trading. (Asharq Al-Awsat)
The Saudi stock market recorded a sharp decline during the week’s trading. (Asharq Al-Awsat)

Saudi Arabia’s Tadawul All Share Index (TASI) dropped 4.1% by 542 points on Thursday, to close at 12,837 points, with the total value of traded shares reaching nearly SR10.2 billion.

In the last four trading sessions, the Saudi benchmark deepened its losses to more than 980 points. This comes as financial markets and global stock exchanges, led by the US, are witnessing a sharp decline following inflation data that raised fears of a continued tightening of monetary policy by the Federal Reserve and global central banks.

The Saudi Parallel Equity Market Index (NOMU) ended the day losing 27.38 points, to close at 22,646.74 points, with a value of SR31 million and an overall tally of more than 429,000 stocks traded in 2,171 deals.

Meanwhile, the Saudi Central Bank (SAMA) issued the annual report on the performance of the insurance market, which assessed the sector’s developments and financial results during 2021, as well as its contribution to the Kingdom’s GDP.

According to the report, the insurance sector grew 8.4 percent in 2021, with a total written premium at SR42 billion ($11.2 billion).

The report further stated that the contribution of insurance sector to non-oil GDP decreased slightly by -0.01 percent to reach 1.91 percent, while the overall loss ratio increased to reach 83.4 percent in 2021 compared to 76.7 percent in 2020.

It added that the losses of the insurance sector amounted to 47 million riyals during the past year, compared to a net profit of 1.38 billion riyals in 2020, noting that the improvement in the income of investment operations helped limit the decline in the sector’s performance.

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Oil Edges up on Potential US Tariff Exemptions on Cars, Pick-up in China Crude Imports 

A general view of oil tanks located near the Teltowkanal canal in Berlin, Germany, 10 April 2025. (EPA)
A general view of oil tanks located near the Teltowkanal canal in Berlin, Germany, 10 April 2025. (EPA)
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Oil Edges up on Potential US Tariff Exemptions on Cars, Pick-up in China Crude Imports 

A general view of oil tanks located near the Teltowkanal canal in Berlin, Germany, 10 April 2025. (EPA)
A general view of oil tanks located near the Teltowkanal canal in Berlin, Germany, 10 April 2025. (EPA)

Oil prices inched higher on Tuesday, supported by new tariff exemptions floated by US President Donald Trump and a rebound in China crude oil imports in anticipation of tighter Iranian supply.

Brent crude futures gained 12 cents, or 0.2%, to $65 per barrel by 0350 GMT, while US West Texas Intermediate crude was up 13 cents, or 0.2%, to $61.66.

"Trump granted exemptions on electronic tariffs and signaled an auto tariff relief, both of which are seen as setbacks from the previously announced import levies, hence, providing some relief to risk assets, including oil," said independent market analyst Tina Teng.

"However, the rally in stocks and growth-sentiment commodities is skeptical, as his policy is unpredictable."

In the latest development in Trump's whipsawing trade war, he said he was considering a modification to the 25% tariffs imposed on foreign auto and auto parts imports from Mexico, Canada and other places.

The vacillating US trade policies have created uncertainty for global oil markets and pushed OPEC on Monday to lower its demand outlook for the first time since December.

The Trump administration had announced on Friday that it would grant exclusions from tariffs on smartphones, computers and some other electronic goods, most of which are imported from China. That drove both oil benchmarks to settle up slightly higher on Monday.

On Sunday, Trump said he would announce the tariff rate on imported semiconductors over the next week and a Monday Federal Register filing showed the administration had begun an investigation into imports of semiconductors on April 1.

"The market is digesting fast-moving policy developments on the tariff front, while balancing them with nuclear talks between the US and Iran," said ING analysts in a Tuesday note.

"Clearly, the market is more focused on tariffs and what they mean for oil demand."

US Energy Secretary Chris Wright said on Friday the United States could stop Iranian oil exports as part of Trump's plan to pressure Tehran over its nuclear program.

Also supporting prices were data on Monday showing that China's crude oil imports in March were up nearly 5% from a year earlier, as arrivals of Iranian oil surged in anticipation of tighter US sanctions enforcement.