Saudi Arabia indices continues to trade in green on Tuesday, April 7, after witnessing highest ever closing on Monday since December 2024, following gains in Asian markets, stocks rebounded from a global selloff amid optimism that the United States may be open to negotiating its steep import tariffs.
Saudi Arabia’s main stock index TASI rose by 2 per cent, continuing its upward momentum from the previous session. The gains were driven by a 2.3 per cent increase in Al Rajhi Bank (1120.SE) and a 2.1 per cent rise in Saudi National Bank (1180.SE), the nation’s largest lender.
Among the notable gainers, oil giant Saudi Aramco climbed 1.2 per cent.
This came after the Saudi index dropped 6.8 per cent on Sunday—its sharpest single-day decline since the early months of the COVID-19 pandemic in 2020.
Meanwhile, Dubai’s primary stock index DFMGI rose by 1.9 per cent, led by a 1.7 per cent gain in blue-chip developer Emaar Properties and a 2.4 per cent surge in Sharia-compliant lender Dubai Islamic Bank.
The Qatari index QSI rose by 1.9 per cent, driven by a 2.8 per cent gain in Qatar National Bank, the Gulf’s largest lender.
Asian markets today
Asian markets started the day on a positive note Tuesday, with Japan’s Nikkei 225 index surging over 6 per cent, recovering from a nearly 8% plunge the previous day.
The bounce-back came after a volatile session on Wall Street, where U.S. stocks swung sharply in response to President Donald Trump’s threat to further raise his already steep tariffs.
By late morning in Tokyo, the Nikkei 225 had risen by 6.5 per cent, reaching 33,148.52.
Meanwhile, Hong Kong’s market regained some ground, though the recovery was modest compared to Monday’s sharp 13.2% plunge — the Hang Seng’s worst single-day drop since the 1997 Asian financial crisis.
The Hang Seng Index rose by 1.7 per cent to reach 20,163.97, while the Shanghai Composite climbed 0.8 per cent to 3,121.72.
South Korea’s Kospi advanced 1.6 per cent to 2,364.22, and Australia’s S&P/ASX 200 also gained 1.6 per cent, closing at 7,462.60.
Markets in both New Zealand and Australia saw upward momentum as well.
On Monday, the S&P 500 dipped 0.2 per cent as cautious investors waited to see President Trump’s next move in the ongoing trade war. A shift toward trade agreements could lead to lower tariffs and help avoid a potential recession, but if tariffs remain in place long-term, markets could face additional declines.
The Dow Jones Industrial Average dropped 349 points, or 0.9 per cent, while the Nasdaq Composite inched up by 0.1%.
(With inputs from agencies)
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