THE STOCK MARKET LOST A BILLION DINARS OF ITS VALUE IN A WEEK

  • 24/06/2022

Kuwait City: The Kuwait Stock Exchange continued to decline in its performance for the third week in a row in light of the continued uncertainty that dominates global markets due to fears of a decline in the growth of the global economy, which has negative repercussions on global stock markets, and then stock markets in the Gulf region, including the Kuwaiti stock market.


The downward trend of the stock market was reinforced by the drop in oil prices in the global market at rates that reached 6%, as the Kuwait Stock Exchange, like all other regional stock exchanges, is affected by oil prices as a major driver, whether up or down.

As a result of the continuation of the selling trend, the market value of the Kuwait Stock Exchange lost 2.3% of the total by about 1 billion dinars, bringing the total market value at the end of the week to 43 billion dinars, compared to 44 billion dinars at the end of last week.

The level of liquidity decreased by 7.7%, as the weekly total amounted to 287 million dinars, with a daily average of 57 million dinars, compared to 311 million dinars with a daily average of 62 million dinars last week, noting that Boursa Kuwait received foreign inflows last week as a result of FTSE Russell’s review of Boursa Kuwait’s weights.

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