Monday, 8 October , 2018     |     912      |      +      |     

Kuwaiti stocks retreat ahead of FTSE implementation

Kuwaiti stocks retreat ahead of FTSE implementation : Google
  • Business

Kuwait’s main equities index fell a day before its inclusion in FTSE Russell’s emerging-markets gauge, trimming one of the best rallies in Middle Eastern stock markets this year.

A drop just before inclusion isn’t surprising: the same thing happened to stocks in Qatar and the United Arab Emirates when they were upgraded to emerging-market status by MSCI Inc. in 2014.

In Pakistan, the main index lost 15 percent last year even after an upgrade.

EFG-Hermes expects $930 million in inflows to Kuwaiti stocks as a result of FTSE’s upgrade, which was first announced last year.

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Category: #Business | 2018/10/08 latest update at 6:20 AM
Source : Arabian Business | Photocredit : Google
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