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Article: Kuwait market gained 10.7% in May-2009
- Article from:
- Al Bawaba
- Article date:
- June 2, 2009
CopyrightCopyright 2009 Al Bawaba. Provided by ProQuest LLC. (Hide copyright information)
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Kuwait market gained 10.7% in May-2009Global Investment House
Kuwait KSE Monthly Performance- During the month of May 2009, the
Kuwait Stock Exchange (KSE) continued its bullish trend for the
third consecutive month (m-o-m change) encouraged by positive
sentiment towards global economy and increased oil prices. The
market remained buoyant for the month as all the sectoral indices
ended the month in positive territory. On the economy front, the
Central Bank of Kuwait (CBK) announced cutting its benchmark
discount rate by 50 basis points to 3 percent effective Thursday,
May 14. CBK governor said that a planned 50 basis point interest
rate cut was designed to reduce the cost of funding to ...