Kuwait: Promoting Kuwait Bourse Tangibly Affects TradesSource: www.export-egypt.com 10/1/2017, Location: Middle East |
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Promoting Kuwait bourse tangibly affects trades KUWAIT -- According to Bayan Investment Company, the bourse lost KD 474 million (USD 1.5 billion) of its capital value last week, reaching KD 28.8 billion (USD 94.17 billion), dropping by 1.61 percent -- as compared to the past week.
Traders have followed up on a declaration to hold a meeting by Asiya company board next week to discuss trimming the paid up capital from KD 80 million (USD 261.6 million) to KD 66 million (USD 215.5 million), in addition to follow ing up on a disclosure by Arjan Co. with respect of banking facilities and amending rental value of investment reality plots. Moreover, the traders have shown interest in selling securities for the execution department at the Ministry of Justice in addition to the bourse declaration on maintaining trade suspension on Markaz shares. Some investors examined withdrawal of Themar from the market, effective October 19, along with pullout of Nafaes as of February 15, in addition to suspending trades in Reem stocks, as well as restructuring operations by the United Gulf Bank. Furthermore, selloff pressure and profit generation targeted many companies' stocks. The benchmark closed bearishly losing 8.1 points and settling at 6,671.63 points, posting cash value of KD 33.16 million (USD 108.4 million), through 156.13 million stocks, in 5,006 spot transactions. |
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