Arab Today, arab today cmak amendments to shape kuwait stock march performance
Last Updated : GMT 23:57:56
Arab Today, arab today
Arab Today, arab today

CMAK amendments to shape Kuwait Stock March performance

Arab Today, arab today

Arab Today, arab today CMAK amendments to shape Kuwait Stock March performance

Kuwait Stock Exchange (KSE)
Kuwait - KUNA

Announcing more 2014 results by listed companies and discussions of amendments to the Capital Markets Authority of Kuwait (CMAK) law are expected to determine the course of transactions at the Kuwait Stock Exchange (KSE) in March, according to experts.
In separate interviews with KUNA, market experts shared the view that the stock exchange still suffers from lack of technical incentives, absence of stock makers and speculations in addition to delay by some key investor groups to play due role.
The overall pace of KSE March transactions is usually characterized by sensitivity, as the end of the month is the last date for the listed companies to disclose their 2014 final statements, Maitham Al-Shakhs, Director General of Al-Arabi Financial Brokerage Co. told KUNA.
Al-Shakhs expected that some companies will be suspended by the end of the month after they have reached a critical point. Four have already entered the hazardous zone, with a face value of less than 30 fils.
Shares of other 35 companies have a face value of less than 100 fils.
Thus, 39 companies are much expected to face hardships through the month, forming about 20 percent of the listed ones, Al-Shakhs noted.
The market is also awaiting for the discussions of amendments to Law 7/2010 on establishing the CMAK, which will hopefully help enhance transparency for all investors, he said.
For his part, chairman of the Kuwaiti Traders Society, Mohammad Al-Tarrah, said that through March sessions, the market will try to "catch breath" after "a marathon of disparities" in February.
According to Al-Tarrah, rumors over the suspension of certain shares will take toll on the overall pace of transactions in March. He said speculators will do their best to tempt small investors into buying certain shares.
Financial analyst, Nayef Al Enezi expected that in March financial portfolios will seek to realize a good end to the first quarter, in comparison with the corresponding period last year, as fluctuation are likely to carry on amid fears that certain companies will be suspended.
This all will lead liquidity down to low levels, he explained.
KSE ended the first March session on Sunday in the red zone as the price index lost 19.67 points, recording 6,581.76 points, the weighted index dropped by 5.28 points, reaching 452.45 points, and the KSX 15 shed 17.05 points settling at 1,099.81.

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