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| Today: 09 February 2010 Time: 04:07 PM |
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| Political, economic factors negatively affect Kuwait''s bourse |
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| Economics 11/21/2009 11:21:00 AM |
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KUWAIT, Nov 21 (KUNA) -- Indices of the national bourse remained bearish
for the third consecutive week due to a package of reasons.
The Kuwait Stock Exchange (KSE) posted the lowest drop in seven months due
to limited intervention by the "billion's portfolio," where it currently deals
in only KD 400 million, compared to KD 1.5 billion in the past.
The report alluded the downturn tendency of the stock trading to delay of
adoption of the financial stability law, stumbling of the Zain deal, in
addition to Agility's hiking prices of food items sold to the American Army
by USD 60 million. Its stocks dropped 8.3 percent, the lowest fall in 19 weeks.
The market was also negatively affected with the fall f profits of major
companies in the end of the third quarter of the current year, as well as the
continuous jittery atmosphere between the National Assemly and the Government.
The consultancy center proposed in its report injecting liquidity through
the national portfolio for sake of maintaing status of the leading operational
companies. (end)
mka.rk
KUNA 211121 Nov 09NNNN
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