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Kuwait -KSE Ends In Red Zone For Third Consecutive Week  Join our daily free Newsletter

MENAFN - Arab Times - 22/12/2013

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(MENAFN - Arab Times) Kuwait Stock Exchange (KSE) ended last week in the red zone. The price index closed at 7,605.04 points, down by 1.29% from the week before closing, the weighted index decreased by 0.34% after closing at 451.82 points, whereas the KSX-15 index closed at 1,075.86 points down by 0.01%. Furthermore, last week's average daily turnover decreased by 17.26%, compared to the preceding week, reaching K.D 19.91 million, whereas trading volume average was 188.96 million shares, recording decrease of 32.75%.

The red color continued to over control the stock market three indices performance, which closed with decline for the third consecutive week, among a continued state of fear and lack of trust in controlling the traders, whereas the strong selling pressures that executed on many stocks of different sectors, especially the small-cap ones, contributed to the losses of the stock market general indices, mostly the Price Index, which continued to drop one week after the other, to decline to its lowest level since around mid of last September.

In addition, the investors' fear and weak confidence in the stock market recovery pushed some of them to liquidate their stocks, and wait for the market to improve, while others held on trading, thus caused the trading activity to contract noticeably, especially the trading value, which declined to a record levels never witnessed in quite some time, whereas it recorded in one of the last week's sessions its lowest level since more than four months, among purchasing abandon from the portfolios and investment funds.
Moreover, the investors' watch for the listed companies year-end financial results is considered to be a reason for the weak state that the stock market is living currently, as many of them are waiting for such results to define their priorities and investment directions for the next period, in light of the weak operational performance for some companies, due to the weak investment environment surrounding it.
For the annual performance, the price index ended last week recording 28.15% annual gains compared to its closing in 2012, while the weighted index increased by 8.18%, and the KSX-15 recorded 6.62% growth.


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