Kuwait’s quest toward revamping financial market ongoing — executive

Boursa Kuwait affirmed on Monday pursuing approach toward strategic goals for revamping the national financial market and promoting investments internationationally, as a prelude to listing in the MSCI index of emerging markets set late November.

Nora Al-Abdulkarim, the head of the bourse markets section, said during a virtual seminar, organized by HSBC and the Capital Market Authority Monday, that the bourse had taken a chain of extraordinary measures regarding trading mechanisms, in tandem with the forecast listing.

This mechanism will be operated during the listing day, solely, to absorb liquidity that would be injected, Abdulkarim said.

The bourse however would make lasting changes in the trading mechanism, she indicated further.

Kuwaiti bourse has recently listed its stocks in the local financial market whereby it became the first bourse to be totally owned by the private sector in the Gulf. The step prompted the shares to soar tenfolds in the first day of trading, September 14.

Source: Kuwait News Agency