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Major traders' absence keep KSE liquidity low

KUWAIT, Aug 1 (KUNA) -- Trading at Kuwait Stock Exchange (KSE) was largely lackluster in the past week's sessions due to major dealers' absence, according to a report released by Al-Oula brokerage company on Saturday.
The past seven months "were the worst in the KSE history," the report said, noting that liquidity was largely unchanged, except for the weighted index and Kuwait-15's levels.
KSE benchmark was relatively steady, however its stability was not translated into hiking liquidity volume, where trading was dominated with speculation, except for Tuesday's session, when value of traded stocks reached approximately KD 14 million.
Random speculations targeted, in particular, "popular stocks," trading at 50-100 fils, the report said, adding that the market needs "psychological push to motivate the investors." The market lacked incentives, with major portfolios staying out of it, it said, noting that bulk of the portfolios shifted to bourses in the Gulf region, namely the Saudi and UAE markets.
Although companies revealed profits, trading remained stagnant. Companies that have not publicized their financial statements have only two weeks to do so, or face penalty. (end) mke.ht.tb.rk