Kuwait Stock Exchange is attracting $ 10 billion by joining the emerging markets index

Ahmed Al-Melhem, Executive Director of the Kuwait Capital Markets Authority, expected that the Kuwaiti Stock Exchange would attract $ 10 billion in active and inactive funds after officially joining the Morgan Stanley Emerging Markets Index today, According to estimates from global investment banks.

According to Arabiya Net, today, Monday, the upgrade of Kuwaiti stock indices to the MSCI emerging market index, a step that has been postponed since May due to the Corona pandemic.

and MSCI clarified that seven Kuwaiti stocks will be added to its benchmark emerging markets index with a total weight of 0.58%. Zain, buildings, and finally Gulf Bank.

He added in his interview with Al-Arabiya that it is not necessary for liquidity to enter the market today, but it may have already entered part of it or the market will receive some of it in the coming period. < / p>

He explained that some active foreign investors entered the market in previous periods, and they may sell in the market during today's trading session.

and pointed out that foreign investors acquire approximately 20% of the daily volumes of liquidity in the stock exchange, explaining that foreign ownership in listed companies is constantly increasing.

He explained that Kuwait has taken important steps to attract foreigners, including raising the ceiling for foreign ownership in Kuwaiti banks, which was 5%, and now the foreigner has the right to increase his investments About that percentage, subject to the approval of the Central Bank, as a local investor treats.

He stated that the Kuwaiti Stock Exchange will launch several new tools in the market in the coming period, including margin trading.

and regarding the new listings, he explained that there is a company that fulfills the terms of the offering and follows the system of public-private partnerships.

MSCI announced that 14 Kuwaiti companies have joined the index among small companies.

The list revealed that 14 Kuwaiti companies have joined the Small Business Index, and these companies are: Al Ahli Bank of Kuwait, Qurain Petrochemical Company, Al Imtiaz Group, Boubyan Petrochemical Company, and Human Soft , Integrated Company, Jazeera Airways, Kuwait International Bank (KIB), Kuwait Holding Projects (KIPCO), National Industries, National Real Estate, North Al-Zour, and Warba Bank.