KUWAIT CITY, June 4: New foreign investments totaling 93.3 million dinars flowed into the Boursa Kuwait during the first five months of 2024, supported by vigorous purchasing activities by institutions and companies. Their net transactions amounted to approximately 96.1 million dinars, with purchases totaling 800.5 million dinars and sales amounting to 704 million dinars. Individuals, on the other hand, recorded net sales of about 3.6 million dinars, with purchases of 140.9 million dinars compared to sales of 144.6 million dinars.

The Foreign investment funds saw net purchases of about 813 thousand dinars, following purchases of 3.4 million dinars and sales of 2.6 million dinars. The Boursa Kuwait data revealed that Kuwaitis exhibited net sales of approximately 56.9 million dinars, primarily driven by selling pressures from institutions and companies, which recorded net sales of 4.7 million dinars. Individuals registered net sales of 53.7 million dinars, while investment funds recorded net sales of about 923.7 thousand dinars.

The Gulf investors, on the other hand, witnessed net sales of around 36.3 million dinars during the same period. This was attributed to an increase in sales by institutions and companies, amounting to 44.2 million dinars, compared to net purchases by investment funds totaling 1.8 million dinars. The Gulf individuals, however, recorded net purchases of Kuwaiti stocks amounting to 5.9 million dinars.

Transactions on the Kuwait Stock Exchange are categorized into individuals, institutions or companies, investment funds, and client portfolios, with transactions by the latter limited to Kuwaiti investors. Institutions and companies continued to dominate trading, accounting for over 58% of transactions. In market news, the Kuwait Stock Exchange experienced a decline in its general index by 40.3 points, closing at 7,025 points, a decrease of 0.5 percent.

A total of 190 million shares were traded through 14,744 transactions, valued at 50.8 million dinars. Despite this, the main market index rose by 24.14 points, reaching 5,997 points, while the First Market Index decreased by 59.3 points to 7,637 points. The (Main 50) index rose by 21.61 points to reach 5828 points. In a separate development, Amer Al-Ajmi, Head of the Local Affairs Sector and official spokesman for the government, refuted rumors circulating on social media and news services regarding the resignation of Dr. Adel Al-Adwani, Minister of Education and Minister of Higher Education and Scientific Research. Al-Ajmi emphasized that legal measures would be taken against those spreading false news and urged the public to verify information from official sources

By Mahmoud Shendi
Al-Seyassah/Arab Times Staff