Investors cautious about Sept. stock deals - economists 

(MENAFN - Kuwait News Agency (KUNA)) Investors were cautious about trading at the Kuwait Stock Exchange (KSE) in September as governmental measures led to a slight rise especially in the second half of the month, according to economists.

Trading is predicted to improve considerably in the last quarter of this year, thus making up for the disappointing performance of many unlucky companies, economists told KUNA separately.

September transactions were overwhelmed by some pure local changes, together with another about-face on the level of companies registered with the KSE, thus causing inactive trading of most shares in all sectors, Kuwait Investments Company Chairman and Managing Director Suleiman Al-Sahli said.

But, trading became active in major indexes thanks to the favorable reflections of governmental statements targeting economic improvement, he said.

This created a wave of optimism among dealers and there was a remarkable improvement in stock prices, he added.

International Financial Advisors (IFA) Deputy Chairman Saleh Al-Salmi considered that trading in September was normal and nothing new happened, but several Amiri decrees were issued in order to push forward the economic wheel, something which pushed leading companies back to their normal positions.

"As active investment companies at the market, we called for setting out the congenial formula for rescuing the market, and the Amiri call for economic recovery led to a boom in declining shares," he said.

He hailed that there are many companies that enjoy good reputation at both local and international levels, so they can lead the market to standard levels should the congenial investment atmosphere be created.

For his part, Arzaq Capital Company Board's Advisor Salah Al-Sultan said governmental economic directives resulted in some confidence at the market in September.

But, he called on companies to take the right direction and to make use of the current favorable stage.

All investors are waiting for more incentives for the market to regain its earlier standards booms, he pointed out.