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Tadawul Shares Close Week Lower as Saudi Arabia's Industrial Production Declines

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The Tadawul All Share Index ended the week 0.08% lower on Thursday as the downbeat preliminary data in Saudi Arabia's latest economic release dampened investor sentiment.

According to preliminary data, the General Authority for Statistics reported an 8.1% year-over-year decline in Saudi Arabia's industrial production in July. Month-over-month, industrial production rose 10.4%.

"The index of oil activities in July 2026 decreased by 11.4% compared with the same month of the previous year, while the index of non-oil activities decreased by 0.3%. The results also indicate that the index of oil activities increased by 16.3%, and the index of non-oil activities decreased by 0.2% compared with June 2026," the report said.

Also making headlines, Pakistan reportedly sent a warning to Iran regarding the Houthi group's attacks on Saudi Arabia, Reuters reported. The sources said that the warning aims to prevent a wider Middle Eastern conflict.

In local corporate news, Filling and Packing Materials Manufacturing Co. (SASE:2180), d/b/a Fipco, shares closed 2.34% in the red as it extended its share purchase deal for its Bina Industrial Investment acquisition by 270 days.

Meanwhile, the board of Sabic Agri-Nutrients Co. (SASE:2020) cleared its final investment decision for an integrated industrial complex project to boost its urea production capacity. Shares of the petrochemical company closed 0.87% higher.

What else is happening in Asia Markets?

Asia Markets

Update: US Equity Indexes Fall as Treasury Yields Rise After Bessent Triples Size of Buyback Program, Worsening Iran War Sends Brent Crude Above $100

(Updates with index/price moves, macroeconomic data, comments, and company/geopolitical news from the first paragraph.)US equity indexes slid as government bond yields jumped after the Treasury Department unveiled plans to triple government debt buybacks to as much as $6 billion and after Brent crude oil futures surpassed $100 a barrel.The Nasdaq Composite declined 0.6% to 26,253.34, the S&P 500 retreated 0.5% to 7,636.36, and the Dow Jones Industrial Average dropped 0.8% to 52,380.66 on Wednesday. All sectors except energy fell, with consumer discretionary, real estate, industrials and utilities among the steepest decliners.Iran is ready for a more intense war and will escalate counterstrikes if the US continues attacking its territory and infrastructure, Bloomberg reported, citing a senior official from the Islamic Republic. Tehran has no intention of backing down in the face of an American naval blockade and attacks on its oil tankers, the official told the news outlet.The Iranian Revolutionary Guard Corps plans to declare a restricted zone stretching from Chabahar into parts of the Gulf of Oman and the Arabian Sea, Al Jazeera, a Middle Eastern broadcaster, reported. Any vessel entering this area will face sanctions, it said. The Strait of Hormuz accounted for about a fifth of global oil and gas flow daily before the Iran war.Iran said it attacked 10 ships near the Strait of Hormuz after the US sank five of Tehran's oil tankers, in the biggest declared wave of tit-for-tat attacks on shipping by both sides since the start of the six-month-old war, Reuters reported.The front-month US West Texas Intermediate crude oil contract surged 3.6% to $96.39 per barrel, and global benchmark North Sea Brent soared 3.5% to $101.34 per barrel.The Treasury Department plans to buy back up to $6 billion of government debt, CNBC reported. The move triples the normal buyback operation, following an announcement Aug. 19 from Treasury Secretary Scott Bessent saying the department would at least double the normal amount for already issued securities.As longer-maturity bond yields rise, governments are taking steps to adjust issuance of longer-dated securities, according to Goldman Sachs. The US Treasury said last month it plans to increase buybacks of Treasuries with a maturity of 10 years or more, reducing the maturity profile of US debt stock. Shorter-maturity issuance will finance the buybacks."It's an effective reduction in the average maturity of issuance," Goldman's George Cole, head of European rates strategy, said in a webinar. "That in and of itself isn't sufficient to change the yield level."Most US Treasury yields rose, with the 10-year yield up 3.7 basis points to 4.84%, close to its highest since late 2023.In company news, Meta Platforms (META) launched a new personal artificial intelligence agent called Muse AI, which can send emails, book travel plans, take on goals, and continue working after users close the app. Shares advanced 6.6%, among the top gainers on the S&P 500 and the Nasdaq.Casey's General Stores (CASY) fiscal Q1 same-store sales growth slowed and missed Wall Street estimates, taking the shine off earnings and revenue beats. Shares sank 14%, the steepest decliner on the S&P 500.In economic news, Redbook US same-store sales surged 8.3% from a year earlier in the week ended Sept. 5, after a 9.6% year-over-year increase in the previous week.Gold futures were steady at $4,442.4, and silver futures jumped 1.3% to $67.87.

Dow JonesNasdaq CompositeS&P 500$CASY$META
Asia Markets

Update: US Equity Indexes Drop as Crude Oil Tops $100 Mark Amid Worsening Iran War, Yields Surge After Treasury Triples Government-Debt Buybacks

(Updates with index/price moves, macroeconomic data, comments and company/geopolitical news from the first paragraph.)US equity indexes slid after Brent crude oil futures crossed $100 a barrel and a surge in government bond yields wiped the shine off the Treasury Department's move to triple government debt buybacks to as much as $6 billion.The Nasdaq Composite declined 0.6% to 26,260.2, the S&P 500 retreated 0.4% to 7,641.5, and the Dow Jones Industrial Average dropped 0.5% to 52,522.6 after midday Wednesday. All sectors except energy fell, with consumer discretionary, real estate, industrials and utilities among the steepest decliners.The Iranian Revolutionary Guard Corps plans to declare a restricted zone stretching from Chabahar into parts of the Gulf of Oman and the Arabian Sea, Al Jazeera, a Middle Eastern broadcaster, reported. Any vessel entering this area will face sanctions, it said. The Strait of Hormuz accounted for about a fifth of global oil and gas flow daily before the Iran war.Iran said on Wednesday it had attacked 10 ships near the Strait of Hormuz after the US sank five Iranian oil tankers, in the biggest declared wave of tit-for-tat attacks on shipping by both sides since the start of the six-month-old war, Reuters reported."Oil prices will be higher for longer with no end in sight for what remains Iran's strategy of managed irresolution through US midterms," Derek Holt, the head of capital market economics at Scotiabank, said in a note.The front-month US West Texas Intermediate crude oil contract surged 2.9% to $95.68 per barrel, and global benchmark North Sea Brent soared 2.8% to $100.68 per barrel.The Treasury Department plans to buy back up to $6 billion of government debt, CNBC reported. The move triples the normal buyback operation, following an announcement Aug. 19 from Treasury Secretary Scott Bessent that the department would at least double the normal amount for already-issued securities.Most US Treasury yields rose, with the two-year up 2.5 basis points to 4.42%. The 10-year yield jumped 3.1 basis points to 4.84%, trading close to its highest since late 2023.Treasury yields rose despite the increased buyback announcement, as some on Wall Street expect even bigger repurchases, according to CNBC.Gold futures rose 0.6% to $4,464.00, and silver futures jumped 2.8% to $68.90.In company news, Meta Platforms (META) launched a new personal artificial intelligence agent called Muse AI, which can send emails, book travel plans, take on goals, and continue working after users close the app. Shares advanced 6.2%, among the top gainers on the S&P 500 and the Nasdaq.Casey's General Stores (CASY) fiscal Q1 same-store sales growth slowed and missed Wall Street estimates, taking the shine off earnings and revenue beats. Shares sank more than 15%, the steepest decliner on the S&P 500.In economic news, Redbook US same-store sales surged 8.3% from a year earlier in the week ended Sept. 5, after a 9.6% year-over-year increase in the previous week.

Dow JonesNasdaq CompositeS&P 500$CASY$META
Asia Markets

Exchange-Traded Funds, US Equities Fall After Midday

Broad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) fell 0.3%.US equity indexes fell as Brent crude oil futures crossed $100 a barrel, while a surge in government bond yields wiped the shine off the Treasury Department's move to triple government debt buybacks to as much as $6 billion.EnergyIShares US Energy ETF (IYE) gained 0.8% and the State Street Energy Select Sector SPDR (XLE) climbed 0.8%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 0.1%; iShares US Technology ETF (IYW) dropped fractionally, and iShares Expanded Tech Sector ETF (IGM) added 0.2%.The State Street SPDR S&P Semiconductor (XSD) rose 0.2%, while iShares Semiconductor (SOXX) advanced 0.7%.FinancialThe State Street Financial Select Sector SPDR (XLF) slipped 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.5%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 0.5%.CommoditiesCrude oil increased 2.5%, and the United States Oil Fund (USO) gained 1.4%. Natural gas shed 3%, and the United States Natural Gas Fund (UNG) dropped 2.8%.Gold on Comex increased 0.3%, and the State Street SPDR Gold Shares (GLD) moved 1.3% higher. Silver advanced 2%, and iShares Silver Trust (SLV) rose 3.9%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) shed 1.1%. The Vanguard Consumer Staples ETF (VDC) fell 1.1%, and iShares Dow Jones US Consumer Goods (IYK) eased 0.9%.The State Street Consumer Discretionary Select Sector SPDR (XLY) lost 1.2%. The VanEck Retail ETF (RTH) fell 1.1%, and the State Street SPDR S&P Retail (XRT) dropped 1.3%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) fell 0.2%; iShares US Healthcare (IYH) dropped 0.3% and Vanguard Health Care ETF (VHT) declined 0.4%, while iShares Biotechnology ETF (IBB) shed 0.6%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) was 1.2% lower. The Vanguard Industrials Index Fund (VIS) shed 1.2% and iShares US Industrials (IYJ) dropped 0.9%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) gained 0.3%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) increased 0.5%, ProShares Ether ETF (EETH) fell 0.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH