KUWAIT, March 1: Boursa Kuwait kicked off the new week trades on Sunday with the benchmark shedding 487 points, dropping to the level of 5,584.99 points; an 8.02-percent decline.
Trade volume of the benchmark (All Share Market Index) amounted to 32.2 million shares, done through 1,124 spot deals, valued at KD 4.8 million (USD 16.32 million).
Premier Market Index also moved down, losing 207.6 points to the level of 4,561.7 points, by 4.3 percent, with a stock volume of 26.6 million, through 788 transactions, valued at KD 1.5 million (approximately USD 5.1 million).
The Kuwaiti bourse is currently implementing the first step of the third phase of overhauling the market, inaugurating improvised investment tools, namely feasible reality funds.
Boursa Kuwait announced Sunday suspending trading in the ‘Premier’ Market until the end of today’s session due to a 10-percent decrease of the aforementioned index.
In a press release on its website, Boursa Kuwait said the decision was based on clause 9-26-2 of the Rulebook, with the Closing Auction session also being suspended.
Suspension of trading in the ‘Premier’ Market does not affect trading on the ‘Main’ Market. Only a 10-percent decline in that market’s index can lead to full day suspension of trading in the ‘Main’ Market. (KUNA)