By: Mohamad Farouk

Mubasher: The current downward trend witnessed in Boursa Kuwait’s recent performance is a temporary correction movement that followed the rises achieved after the month of Ramadan, capital market analyst and Head of the training department at FXTM company Nawaf Al Oun told Mubasher.

He noted that the decline in Sunday’s session followed a series of selling pressures’ transactions on the majority of blue chips, leading to a state of anxiety among investors.

Leading stocks, including Kuwait Finance House (KFH) and Zain acquired nearly 30% to 40% of the market’s liquidity in the past two months, Al Oun said.

He clarified that promoting the Boursa Kuwait’s classification on 29 September to be an emerging market will affect the market’s performance, confirming the temporary correction trend for the indices.

This will lead to pumping new foreign liquidity into Boursa Kuwait, impacting a number of operating stocks that attract foreign investors and international investment funds, Al Oun said.