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Kuwait bourse hits its lowest level in 2 years

KFH plunges 41fils, Kuwait Foundry gains

KUWAIT CITY, Jan 5: Kuwait bourse recorded its biggest drop in more than two years following USIran tensions after General Qassem Soleimani was killed early Friday in a US drone attack at Baghdad airport. The general index on Sunday fell 233.8 points on the Kuwait Stock Exchange which ended on the downward to reach the level of 6,048.6 points.

The trading volume of the index reached 257.9 million shares through 11,213 cash deals valued at KD71.4 million (about $235.6 million). Losers totaled 114 out of 128 companies active, eight were gainers and six were unchanged. The main market index decreased by 131.7 points for a reading of 4,778.9 points or 68.6 percent as 138.9 million shares were traded through 5,005 cash deals valued at KD9 million (about $29.7 million). The premier market index also decreased by 283.8 points to reach the level of 6,692 points or 4.7 percent as 119 million shares were traded through 6,208 deals valued at KD62.4 million (about $205.9 million).

Tijara & Real Estate Investment Company was the gainer of the day which rallied 10.0 percent to finish with 55 fils, Warba Insurance Company (K.S.C.P.) sprinted 7.74 percent to stand next, while the steepest decline of 18.42 percent was recorded by The Energy House Company. Kuwait Finance House topped the volume with 24 million shares. Among the main gainers were Tijara & Real Estate Investment Company and Warba Insurance Company (K.S.C.P.) while the shares of Mubarrad Holding Company, Ahli United Bank (B.S.C.) and Gulf Bank were the most heavily traded.

The Kuwait Stock Exchange Company is currently implementing the first step of the third stage of developing the market by launching special innovative products and investment tools including incomegenerating Real Estate Investment Trusts (REITs), which are funds that own and manage real estate incomegenerating and real estate assets.

A number of investors participate in these funds, which allow individual investors to obtain a share of the income resulting from the ownership of the property without the need to purchase or finance property or assets.

Gainers included Kuwait Foundry Company which went up by 15 fils with current price of 350 fils, Tamdeen Investment Company rose by 10 fils with current price of 355 fils, Tijara & Real Estate Investment Company increased by 5 fils with current price of 55 fils, Warba Insurance Company (K.S.C.P.) gained 4.8 fils with current price of 66.8 fils, Kuwait Portland Cement Company increased by 3 fils with current price of 985 fils, and National International Holding Company climbed 2 fils with current price of 79 fils.

Losers were Humansoft which dropped 72 fils with current price of 2,940 fils; Ooredoo lost 55 fils with current price of 773 fils; Agility Public Warehousing Company went down by 45 fils after trading 3.2 million shares with current price of 773 fils; Kuwait Finance House plunged 41 fils through 24 million shares traded with current price of 770 fils; Saudi Telecom Company dipped 33 fils with current price of 755 fils; Zain decreased by 32 fils after trading 11.2 million shares with current price of 568 fils; National Bank of Kuwait declined by 30 fils after trading 12.8 million shares with current price of 1,040 fils; Boubyan Petrochemical Company decreased by 29 fils through 1.1 million shares traded with current price of 639 fils. Gulf Cable and Electrical Industries Company lost 28 fils with current price of 460 fils; Integrated Holding Company KCSC declined by 21 fils with current price of 530 fils; Mabanee Company slid by 20 fils with current price of 885 fils; Gulf Bank went down by 19 fils through 14.9 million shares traded with current price of 284 fils; Ahli United Bank (B.S.C.) plunged 18 fils after trading 17.6 million shares with current price of 305 fils and Arabi Holding Group Company with current price of 256 fils; Tamdeen Real Estate Company went down by 17 fils with current price of 304 fils; Mubarrad Holding Company lost 15.8 fils after trading 19.75 million shares with current price of 72.1 fils.

National Industries Group (Holding) dipped 15 fils through 7.7 million shares traded with current price of 226 fils, Noor Financial Investment which traded 1.8 million shares with current price of 104 fils, Kuwait Company for Process Plant Construction & Contracting with current price of 250 fils, and Heavy Engineering Industries and Ship Building Company with current price of 390 fils; Warba Bank decreased by 14 fils through 4.6 million shares traded with current price of 261 fils and Al Eid Food Company with current price of 65 fils; Boubyan Bank decreased by 13 fils after trading 2.02 million shares with current price of 628 fils, as well as Alafco Aviation Lease and Finance with current price of 259 fils.

Declined
Combined Group Contracting Company declined by 11 fils after trading 1.11 million shares with current price of 250 fils, in addition to Salhia Real Estate Company and Educational Holding Group with current price of 406 fils and 428 fils respectively; Kuwait Investment Company dropped 10 fils through 1.5 million shares traded with current price of 140 fils, as well as Ahli United Bank and Jazeera Airways with current price of 332 fils and 1,089 fils respectively; Gulf Investment House plunged 9.9 fils through 1.02 million shares traded with current price of 54.5 fils; Kuwait International Bank slid by 9 fils after trading 7.7 million shares with current price of 265 fils and Burgan Bank which traded 7.5 million shares with current price of 295 fils, in addition to Qurain Petrochemical Industries Company, Kuwait Cement Company and Acico Industries Company with current price of 301 fils, 237 fils and 124 fils respectively.

IFA Hotels & Resorts Company dropped 7.3 fils with current price of 47.7 fils; Kuwait and Middle East Financial Investment Company went down by 7.2 fils with current price of 82.3 fils; Kuwait Financial Centre decreased by 7.1 fils with current price of 98.9 fils; National Investments Company dropped 7 fils through 5.2 million shares traded with current price of 131 fils, in addition to Al-Ahli Bank of Kuwait and Commercial Facilities Company with current price of 249 fils and 210 fils respectively. Alimtiaz Investment Group Company decreased by 6 fils after trading 2.9 million shares with current price of 120 fils and Al-Enma Real Estate Company which traded 1.2 million shares with current price of 56.5 fils, as well as Kamco Investment Company with current price of 84 fils; The National Real Estate Company dropped 6.4 fils through 7.5 million shares traded with current price of 85 fils; Al-Aman Investment Company went down by 5.9 fils with current price of 53.4 fils; Al Madar Finance and Investment Company lost 5.8 fils with current price of 87 fils; Specialties Group Holding Company declined by 5.7 fils through 1.44 million shares traded with current price of 78.5 fils; Kuwait Real Estate Company dipped 5.2 fils after trading 7.03 million shares with current price of 99.8 fils.

National Cleaning Company went down by 5 fils after trading 1.37 million shares with current price of 64 fils, as well as Soor Fuel Marketing Company and Livestock Transport & Trading Company with current price of 120 fils and 170 fils respectively; Coast Investment & Development Company dipped 4.5 fils after trading 1.3 million shares with current price of 35.5 fils, as well as Salbookh Trading Company with current price of 45.6 fils; Kuwait & Gulf Link Transport Company went down by 4.4 fils with current price of 62 fils; The Energy House Company lost 4.2 fils with current price of 18.6 fils; Oula Fuel Marketing Company, National Industries Company, Kuwait Projects Company (Holding) and Unicap Investment and Finance slid by 4 fils with current price of 123 fils, 160 fils, 212 fils and 51 fils respectively; Mashaer Holding Company went down by 3.8 fils with current price of 73.8 fils; Mena Real Estate Company lost 3.6 fils through 3.5 million shares traded with current price of 37.8 fils; Manazel Holding Company and Fujairah Cement Industries went down by 3.5 fils with current price of 35.7 fils and 41.5 fils respectively; Bayan Investment Company dropped 3.4 fils with current price of 34.7 fils; Kuwait Business Town Real Estate Company declined by 3.3 fils after trading 2.05 million shares with current price of 40.7 fils.

KGL Logistics Company declined by 3 fils after trading 2.11 million shares with current price of 34.3 fils and Privatization Holding Company with current price of 46.5 fils; Asiya Capital Investment Company lost 2.9 fils with current price of 38 fils; First Investment Company slid by 2.8 fils through 8.6 million shares traded with current price of 31.6 fils; First Dubai For Real Estate Development dropped 2.6 fils with current price of 36 fils; Al-Arabiy Real Estate Company lost 2.5 fils after trading 1.15 million shares with current price of 27 fils, in addition to First Takaful Insurance Company and Kuwait Resorts Company with current price of 35.6 fils and 59.5 fils respectively; The Securities House Company decreased by 2.3 fils with current price of 43.2 fils; GFH Financial Group (B.S.C.) went down by 2.1 fils with current price of 66.8 fils; International Financial Advisers Holding, Osos Holding Group Company, Gulf North Africa Holding Company and Kuwait Remal Real Estate Company decreased by 2 fils with current price of 51.4 fils, 103 fils, 60 fils and 22.4 fils respectively; Senergy Holding Company, Arkan Al-Kuwait Real Estate Company and Equipment Holding Company lost 1.9 fils with current price of 20 fils, 87 fils and 20 fils respectively; Alsalam Group Holding Company dipped 1.8 fils after trading 2.2 million shares with current price of 27.5 fils.

Aayan Leasing & Investment Company declined by 1.7 fils through 5.4 million shares traded with current price of 45 fils, Al- Mazaya Holding Company which traded 2.03 million shares with current price of 57.5 fils, and Kuwait Real Estate Holding Company with current price of 27 fils; Kuwait Syrian Holding Company and The Commercial Real Estate Company went down by 1.5 fils with current price of 30 fils and 93 fils respectively; Sokouk Holding Company declined by 1.4 fils through 1.8 million shares traded with current price of 33.8 fils; Al- Mal Investment Company decreased by 1.3 fils after trading 3.3 million shares with current price of 8.6 fils and Taameer Real Estate Investment Company with current price of 25.2 fils; Gulf Petroleum Investment plunged 1.2 fils through 4.39 million shares traded with current price of 18.9 fils; Arzan Financial Group for Financing and Investment declined by 1.1 fils after trading 4.7 million shares with current price of 22.6 fils, as well as Aayan Real Estate Company and Dar Al Thuraya Real Estate Company with current price of 72 fils and 69 fils respectively; Al-Deera Holding Company, Ajial Real Estate Entertainment Company, Inovest and Ajwan Gulf Real Estate Development Company lost 1 fil with current price of 19 fils, 180 fils, 66 fils and 14 fils respectively. The non-movers included Mezzan Holding Company at 500 fils, Commercial Bank of Kuwait at 529 fils, Osoul Investment Company at 75 fils, Kuwait Insurance Company at 330 fils, United Real Estate Company at 61.3 fils, and Warba Capital Holding Company at 64.5 fils.

By Paul Francis X. Fernandes Arab Times Staff

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