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Kuwaiti, Saudi finance markets best in performance in Gulf -- report.

Kuwait Stock Exchange and the Saudi bourse have

been distinguished with the best performance among the regional finance

markets since start of the year. A report released by the Kuwaiti Projects Company for assets managment, on

Tuesday, said Kamco Total Return Weighted (TRW) Index of the KSE posted, on

March 15, the highest closing since five months ago, reaching 2,740.8 points,

thus the market value grew USD 13 billion (KD 3.6 billion). The rise constituted some 19 percent of the climb of the overall value of

the Gulf markets that reached USD 68 billion since 2010. The bullish posting came after heavy losses in the market that shed more

than USD 100 billion in 2008 and 2009, the report said, adding that the

restoration of the investors' confidence in the market impacted positively on

it, where the proportion of its jittering since start of the year amounted to

11.4 percent, in contrast to 27.4 percent of the same period of 2009. The 51 sessions coincided with significant decisions, taken by the official

authorities, in addition to the declaration of the financial results of the

fiscal year, ending on December 31, 2009, as well as transactions by the

listed companies. The decisions and the declarations have positively affected performance of

the KSE, since start of the year, particularly the heavy shares, where the

Kamco index ended 31 sessions in a bullish manner and 20 others bearishly.

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Publication:Kuwait News Agency (KUNA)
Date:Mar 23, 2010
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