The Saudi Market scored its biggest profits in two weeks with the support of "Aqua Power"

The most important index of the Saudi stock market has wiped out its early losses to support the public utility sector, led by ‘Aqua Power’, after yesterday its largest daily losses since May 2020 amid the stock markets and global commodities due to the increase in trade war between the United States and a number of countries in the world. The “Tassi” index ended on Monday, up 1.1%at 11194 points, scoring the largest daily profits since March 26, with Aqua Power shares 6.8%, rising the public utilities sector to 5.2%. The energy sectors increased by 1.3%, basic materials by 1.7%, and communication is about 2%, while the banking sector fell by about 0.25%. The value of trade reached 10.56 billion Riyals at the end of the session, which is the highest since December 19, 2024. Izza Junaid Ansari, director of the investment and research department in Kamco Infost, the positive shift in the index movement to the strength of the basic factors in the Saudi market and the strict controls imposed by the Capital Market Authority in the Kingdom. During an interview with ‘Al -Sharq’, Ansari said: ‘Many investors have begun the impact of customs duties, and since the basics of the Saudi market are strong, this has led to some kind of apostasy and recovery … The Saudi market is largely disciplined and the capital has noted laws that also help in the times of panic. Under the leadership shares on the market, the “Saudi Aramco” share rose 1.3% to 25.25 Riyals, while the shares of “Al -Rajhi Bank” fell 0.2%, “Sabic” 1.5% and the “National Bank” 1.2%. Painful losses in Asia come amid global turmoil, in which Asian stocks have declined sharply in the trading of Monday, which recorded its biggest decline in more than 16 years, in light of the escalation of the fear of the effects of the trade war on the global economy, which sold investors to large scale, led by Chinese shares. The MSCI Asia Pacific Index (MSCI Asia Pacific Index) has recorded a 7.9%decline in its largest daily decline since October 2008. The shares of large companies such as “TSM”, “Tinetnet” and “Sony” were one of the biggest losers in the contemporary session. In Hong Cong, Seng Index is 10.7%, in its worst daily performance since the global financial crisis, while all other Asian markets have suffered huge losses. This sharp decline coincided with the low oil prices. Where the futures “West Texas Intermediate” fell by more than 3% to close at $ 59.78 a barrel, which is the lowest level it recorded in more than four years. Brent ruol also fell 2.7% to close $ 63.12 a barrel. Opportunities to utilize transactions. A number of analysts believe that the acute wave of losses in the Saudi stock market can open the door for investment opportunities to hunt transactions, despite the expectation that some investors prefer to go to less risk options. Hisham Al -yas, the chief financial analyst in Al -sharq Al -Akhbar, said that “the sharp declines can create opportunities, even if they do not appear during the contemporary session or in the nearby sessions, but they will secrete strong companies from the weak, especially because we are on the threshold.” Continuous customs duties announced by US President Donald Trump on Wednesday about a new set of customs tariffs, based on the principle of “customs imposed on the United States”, with the application of “reduced mutual definitions” equivalent to half the rate imposed on US goods. According to these measures, fees on most Chinese products will rise to at least 54%, threatening to significantly reduce China’s exports to the US market. On the other hand, China promised to respond by a package of measures aimed at protecting its economy, including the imposition of 34% Customs definitions on all United States imports from April 10. Beijing authorities have also announced a series of additional measures, which include the immediate restriction on exporting seven types of rare minerals, in a move affecting the world’s onslaught, depends on this vital material.