The FTSE Russell Foundation decided to rebalance the Kuwaiti stocks for the FTSE indices, as it announced the expected weight gain of some Kuwaiti stocks, namely: Al-Qurain Petrochemicals, Ahli United Bank, Agility and Bank Gulf, while the weights of the National Bank of Kuwait and Kuwait Finance House (KFH) were reduced
According to the newspaper, FTSE made a decision to review the weights of some Kuwaiti companies, where about $ 36 million will enter, and about $ 12 million will exit, noting that The implementation will take place tomorrow, Thursday.
According to the periodic review that took place on Tuesday, Human Soft Holding has a weight of 0.04%, Excellence 0.03%, Warba 0.03%, Integrated 0.03% and Boubyan 0.01% Al Ahli United 0.1%, Al Qurain 1.58%, Boubyan Petrochemicals 0.04%, Burgan 0.01%, Gulf Bank 0.03%, KFH 0.02%, KIPCO 0.02%, Kuwait International 0.03%, in addition to buildings 0.02%, Zain 0.02%, and National Kuwait 0.04%, Industries 0.03%, Agility 0.08%.
Sources told the newspaper that the funds expected to enter the Kuwaiti market, within the current stage, are not large compared to the liquidity flowing into the Kuwaiti market earlier, indicating that the market The Kuwaiti has achieved a significant quantum leap since his promotion on the FTSE Index, as the flowing liquidity is institutional for long-term investment goals, so it targets the heavy stocks in the stock market.
and indicated that the Kuwaiti Stock Exchange is working to fulfill the requirements for promotion on the FTSE Index for Advanced Emerging Markets in light of the changes that have occurred in the Kuwait Stock Exchange, which is expected to attract more The foreign cash flows that were found on the stock exchange as an attractive investment destination, pointing out that the liquidity flow that occurred confirms the robustness of the plans followed by the Boursa Kuwait Stock Exchange team during the last period, in coordination and cooperation with the system's parties, such as: the Kuwait Clearing Company and the brokerage companies, led by the Authority. Money markets.
and she indicated that the development of infrastructure, the completion of the two stages of market development, the first batch of the third stage, and the introduction of listing and trading rules issued by it in accordance with international standards, and work to enhance transparency Disclosure, amendment of weighted indicators, and facilitating procedures, all contributed greatly to fulfilling the conditions required for market promotion.
She pointed out that joining the global indices for emerging markets confirms the increasing confidence of investors in the Kuwaiti market, as well as the rapid and successful implementation of reforms and large-scale developments that have enhanced investor access. The international community to the Kuwait Stock Exchange, especially since targeting foreign capital requires tremendous efforts from any emerging market. This is expected to lead to a significant influx of foreign investments, which will enhance the volume of liquidity that helps stabilize markets.
