Kuwait market fails to resist GCC downtrend

30 June 2010

The Kuwait Stock Exchange (KSE) Index could not sustain its advance from Tuesday as selling pressure mounted regionally and globally at capital markets. The KSE Market or Price Index declined by 0.67% and finished at 6,543.2 points. Weak real estate firms weighed on the market, while the insurance sector was the only advancing segment. Kuwait Building Materials Manufacturing posted the largest advance, as it gained 7.143% (closing at KD0.375). As oil prices lost nearly six percent this week so far, shares of Kuwait Pipe Industries and Oil Services plummeted nine percent, ending at KD0.250. The KSE weakened 6.60% since the start of 2010.

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