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MENAFN - Kuwait News Agency (KUNA) - 04/11/2012

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(MENAFN - Kuwait News Agency (KUNA)) Benchmark of Kuwait Stock Exchange (KSE) posted lowest fall, since August 2004, in last hours of the past week trading, amid liquidity shrinkage and sell-off pressure resulting from political events.

Al-Oula finance brokerage company said in a report released on Saturday the KSE resumed trading on Tuesday, following Eid Al-Adha's two-day holiday, on a weak note, and local political conditions resulted in losses, posted in three consecutive sessions till end of the week.

Political worries fed investors' jitters and prompted bulk of the traders to abstain from involvement in deals.

Although the main index dropped 3.6 percent in October amid heightened political tension, its losses turned to be limited upon the weekend closing, to 111.5 points, with increase of a number of trades, amounting to 3,514 transactions, worth KD 15 million dinars. Thus, the benchmark closed the past month operations amid a lackluster atmosphere.

The report said increasing political complications dashed hopes, pinned upon the team of economic experts for tackling the national economic defects, thus affecting the business environment.

Most of the banks which continued disclosing financial results during the past declared growth in operational proceeds. Nevertheless, traders remained anxious with regard of the results of the listed companies for the third quarter of the year. This eventuality was forecast to affect coming trades and flow of liquidity.

 






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