Most Important News

1. MIS Hits All-Time High SAR 208 on Strong Momentum
2. Saudi Asset Management AUM Reaches Record SAR 1.29 Trillion
3. Fed Holds Steady; Dot Plot Signals Rate Hike This Year
4. IEA Forecasts 6M b/d Oil Surplus in 2027
5. Apple Warns Price Hikes As Memory Costs Surge

Saudi Arabia's benchmark Tadawul All Shares Index(TASI.SA)  closed 0.3%, or 31 points, lower at 11,115 points, June 17. Total turnover reached nearly SAR 4.2 billion. The index recorded highs of 11,148 and lows of 11,094.

US stocks fell on Wednesday, while Treasury yields surged, as investors grew uncertain over the path of monetary policy after several Federal Reserve officials indicated there could be a rate hike this year to tamp down on inflation.

The Dow Jones Industrial Average(DJI.US)  fell 507.12 points, or 0.98%, after earlier hitting a fresh all-time intraday record — the index's third consecutive high. The 30-stock index closed at 51,492.55. The S&P 500 index(SPX.US)  lost 1.21% and ended at 7,420.10. The NASDAQ(IXIC.US)  Composite shed 1.34% and settled at 26,021.66.

Fed Holds Rates Steady; Polymarket Bets Show 80% Chance No Change in July

The Federal Reserve unanimously held rates steady on Wednesday, but the dot plot revealed nine officials now expect a rate hike by year-end — a sharp hawkish pivot from March. New Fed Chair Kevin Warsh downplayed the dot plot at his first press conference, calling it unhelpful for policy management. Polymarket traders see a near 80% probability of no rate change at the July 29 meeting, with over $11.8 million wagered. CME FedWatch shows a 30% chance of a 25bps hike, up from 8.5% a day earlier.

Trump: Iran Deal Not Final, Bombing Could Resume

US President Trump stated at the G7 summit in Evian, France that the agreement to be signed with Iran on Friday is merely a memorandum of understanding, not final. "If I don't like it, we'll go back to shooting at them, dropping bombs on their heads," Trump said. The current MoU does not include immediate sanctions relief for Tehran — a matter to be discussed later. Markets are closely watching the Friday signing outcome.

IEA Sees 6M b/d Oil Surplus in 2027 After Hormuz Reopens

The IEA forecast a significant oil surplus of 6 million barrels per day in 2027 as supply recovers from the Hormuz Strait crisis. Global oil supply is expected to surge 8 million b/d next year while demand grows only 2 million b/d. The reopening follows the Washington-Tehran deal ending the trade war, restoring Iranian exports and lifting US sanctions. Brent crude traded at USD 78.23, down 0.54%, with WTI at USD 76.05, up 0.97%.

Saudi Asset Management AUM Hits Record SAR 1.29 Trillion in Q1 2026

Saudi Arabia's asset management industry reached SAR 1.29 trillion in total AUM as of Q1 2026, up 4% quarter-on-quarter from SAR 1.24 trillion, according to CMA data. SNB Capital leads with SAR 283.2 billion (21.9% share), followed by Al Rajhi Capital at SAR 171.9 billion (13.3%). The top five institutions control 60.7% of the market. AUM has grown by over SAR 520 billion since Q1 2023.

KSA Stocks

MIS Hits All-Time High at SAR 208 on Strong Momentum

Al Moammar Information Systems Co.(7200.SA)  surged 2% to SAR 205.60 on June 17, hitting an intraday all-time high of SAR 208. Trading volume reached 112,500 shares. The stock has gained 18% year-to-date and 56% over the past year, with a 5-year return exceeding 116%. Market cap stands at SAR 6.17 billion.

Al Rajhi Bank Named Official Partner of AFC Asian Cup Saudi Arabia 2027

Al Rajhi Bank(1120.SA)  will serve as the official regional partner for the AFC Asian Cup 2027, hosted by Saudi Arabia, in collaboration with Visa. The partnership aligns with Vision 2030's goal of positioning the Kingdom as a global sports destination. Al Rajhi closed at SAR 67.20, down 0.44%, with a YTD gain of 9.92%.

Morabaha Marina Swings to SAR 3.5M Net Loss in Q1 2026

Morabaha Marina Financing Co.(4082.SA) reported a net loss of SAR 3.5 million for Q1 2026, reversing from a SAR 4.2 million profit a year earlier. The loss was driven by an 11.6% drop in total revenue, suspension of NPL income recognition, and higher impairment charges. The stock closed at SAR 7.87, down 1.01%, with a one-year decline of 31%.

Jabal Omar Secures SAR 2B Murabaha Financing From $SNB

Jabal Omar Development Co.(4250.SA)  signed a SAR 2 billion Murabaha financing agreement with Saudi National Bank on June 17, with a 15-year tenor. The funds refinance existing facilities under improved terms to strengthen cash flow sustainability. The facility is secured by a mortgage on one of Jabal Omar's project assets and requires general assembly approval due to a related-party relationship via Chairman Saeed Al-Ghamdi.

Rawasi Albina Wins SAR 54M Transformer Replacement Contract

Rawasi Albina Investment Co.(9547.SA)  announced on June 18 the award of a SAR 53,999,992 contract from Saudi Energy Company for electrical transformer replacement works in the Riyadh and Al-Kharj regions. The contract was granted on June 17. The project covers substation equipment upgrades across two major central regions.

Knowledge Economic City Gets SAR 150M Sharia Financing From Riyad Bank

Knowledge Economic City(4310.SA)  secured a SAR 150 million Sharia-compliant financing facility from Riyad Bank on June 17, with a one-year term. The funds will finance construction works for Groups 1 and 2 of Phase 1 of the Islamic World District project. The facility is secured by a land mortgage and promissory notes.

USA Stocks

Apple to Raise Prices Across Products As Memory Costs Surge

Apple Inc.(AAPL.US)  CEO Tim Cook told The Wall Street Journal that price hikes are unavoidable across Apple's product lineup, calling memory chip cost inflation a once-in-a-century flood. DRAM and NAND prices have quadrupled since Big Tech's AI infrastructure expansion began. Micron (MU.US) stock has risen over 900% from its 52-week low. AAPL traded up 0.51% to USD 297.45 in after-hours.

ARK Sells Robinhood on 8% Rally, Loads Up on Coinbase and Block

Cathie Wood's ARK Invest sold 275,572 shares of Robinhood(HOOD.US)  through ARK Innovation ETF(ARKK.US)  as the stock jumped 8.78% to USD 105.20, while buying 111,799 shares of Coinbase(COIN.US)  at USD 164.91 and 236,759 shares of Block(XYZ.US)  at USD 72.84. Robinhood rallied on a price target upgrade from Argus Research and a 10% workforce reduction. Block beat Q1 earnings but missed on revenue.

Amazon Falls 3.2% As Hawkish Fed Shift Pressures Growth Stocks

Amazon.com, Inc.(AMZN.US)  dropped 3.46% to USD 237.5 on Wednesday after the Fed dot plot signaled a rate hike later this year. Growth stocks face disproportionate valuation pressure as higher rates raise the discount rate on future cash flows. AMZN now trades 6.3% below its 20-day SMA and 6.6% below its 50-day SMA, though it remains above the 200-day SMA at USD 232.67.