|20 July, 2019

Boursa Kuwait outperforms GCC markets in Q2 – NBK

All-Share Market index rose by 1.9% in June

A Kuwaiti investor keeps track of stock prices at the Kuwait Stock Market October 13,2008.

A Kuwaiti investor keeps track of stock prices at the Kuwait Stock Market October 13,2008.

REUTERS/Stephanie McGehee

Kuwait - Boursa Kuwait outperformed GCC markets during the second quarter of 2019, surging 3.8% versus 0.5% for the regional markets, according to a report released on Saturday by the National Bank of Kuwait (NBK).

For the second quarter as a whole, the Kuwait market’s performance was strong relative to peers, up 3.8% versus 0.5% for the GCC.

Boursa Kuwait’s All-Share Market index rose by 1.9% month-on-month in June, while liquidity was relatively high, with an average daily turnover of KWD 38 million, pushed up by the consumer goods and banking sectors.

“Good sentiment this year has been supported by favourable stock re-weightings by the FTSE in March and good corporate earnings, coupled with the anticipation of the MSCI Emerging Market inclusion announcement which took place officially on June 25, to be implemented in May 2020,” the report said.

The NBK referred to some risks that could face the GCC markets including lower oil prices, geopolitical tensions, and sluggish global growth.

Source: Mubasher

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