Buoyed up by upgrading, Kuwait stock exchange rings opening bell

KUWAIT, June 26 (KUNA) -- Kuwait's stock exchange, known as Boursa Kuwait, rang the opening bell on Wednesday, marking being upgraded by Morgan Stanley (MSCI) as part of its main index of emergency markets.
Morgan Stanley (MSCI) announced on Tuesday upgrading of Boursa Kuwait as part of its main index of the emerging markets as of May 2020.
This is the third promotion of Boursa Kuwait after two similar steps taken by Britain's FTSE Russell and Standard and Poor's Dow Jones for international indices.
The forthcoming upgrading is expected to lure inflow of idle funds estimated at USD 2.8 billion.
The rise of Boursa Kuwait to the emerging markets began in 2017, when FTSE announced Kuwait's promotion to man secondary indices of its index. (end) mka.ysa.mt