Tuesday, May 07, 2013
0636 GMT [Zawya Dow Jones]--The Kuwaiti stock market continues to look expensively valued, says asset manager Invest AD, after the benchmark index added some 30% this year. Fund manager however notes that initial signs of progress on small infrastructure projects bode well for listed companies, and the market may offer trading opportunities in coming months. The main stocks gauge trades flat at 7717.21, after closing in the previous session at its highest level since mid-October 2009. The market is trading at a P/E of about 17.4 compared with a pan-GCC P/E of 12.9, according to Zawya.com. (nikhil.lohade@dowjones.com; Twitter: @ZDJnews)
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(END) Dow Jones Newswires
07-05-13 0648GMT
