Kuwait Stock Exchange drops in early trading
Indexes of Kuwait Stock Exchange (KSE) were in the red zone in early trading on Sunday.
Weighted Index read 417.21, dropping by 0.72 points, price index stood at 5, 872.13 losing 16.17 points and the KSX 15 index was at the level of 1,019.56, with a loss of 2.43 points.
Number of trades amounted to 501, value of traded shares reached KD 3,202, 092.007 and volume of the exchanged stocks was at 32,953,621. The bearish trend of the national bourse at opening of the new week sessions followed bullish performance that persisted over the past three weeks.
According to a report released by Bayan Investment Company on Saturday, the KSE continued its upward trend for the third week in a row, buoyed by reports about expected government measures to tackle "imbalances in the national economy." The weekly report said the market has continued making gains amid growing purchase operations that almost covered all kinds of equities, particularly the leading and large-cap ones.
Data showed that for the annual performance, the price index of KSE ended last week recording 1.27 percent annual gains compared to its closing in 2011.
Oula Wasata Brokerage Company said in its weekly report that the market has ended trading last week up by one percent, which is the highest rise since October 18.
- Eyes on the Cityscape: Mongolia, out of all places, is set to woo Middle East investors
- The rise of dollar: aka the downfall of oil markets?
- You don't need to be Muslim to practice? Why Goldman Sachs' sukuk sales worked so swell this around
- Erdogan's ready to smear the banks: is Turkey about to face a financial crisis worse than that of 2001?
- An economic slowdown? The pros and cons of Israel's weakening shekel