Kuwaiti traders expect that the Kuwait Stock Exchange (KSE) will rise, after vacation of Eid Al-Fitr, due to the announcements of earnings of companies which offer their financial data in the second quarter of this year.
Some traders were quoted by Kuwait News Agency (KUNA) as saying that there was a slowdown in trading during the holy month of Ramadan. They hope next week could witness high trading for some cheap shares in order to compensate that slowdown.
Some managers of investment funds, affiliated to major groups which have a great influence on the market, will depend on new strategies towards some shares in certain sectors, trader Mohamed al-Tarrah told KUNA.
Mansour Al-Shimmeri, another trader, had high hopes that investors would return to a stronger trading process in order to raise liquidity in the market and boost all shares.
Source : KUNA Kuwait News agency
