Arab Today, arab today little impact for q1 financial results on stock market
Last Updated : GMT 05:18:07
Arab Today, arab today
Arab Today, arab today

Little impact for Q1 financial results on stock market

Arab Today, arab today

Arab Today, arab today Little impact for Q1 financial results on stock market

Kuwait - KUNA

The listed companies' financial results of the first quarter had little effect on the transactions at the Kuwait Stock Exchange (KSE) due to traders' speculative behavior as well as the lack of technical or political incentives, financial analysts concurred. "A growing number of traders are no longer caring about the impact of the financial results on the market because of the absence of transparency which makes some traders know and make use of these results before its being officially unveiled," Financial Analyst Nayef Al-Enzi told KUNA Sunday. "This turned the stock market into a place for speculation rather than investment." Al-Enzi went on to say that speculative traders are totally controlling the market's trajectory. He cited several investment funds and portfolios' recent lack of interest in the stock market as a clear evidence on the presence of a problem. Financial Analyst Maytham Al-Shakhes echoed a similar view. "If the listed companies' financial results have a real effect, the shares should have gone up significantly," Al-Shakhes told KUNA. Al-Shakhes admitted that there are a few shares that have been impacted by the profits of the first quarters. "But this would not last for long," he said. Al-Shakhes attributed the slumping market capitalization to the prevalence of speculative behavior which discouraged serious investors and pushed them to transfer their investments to other markets. For his part, Adnan Al-Dulaimi, a financial analyst, said the effect of corporate profits for the first quarter of 2014 is still limited. He added that profits, however, are rather good when compared to the same period last year. What really makes one stock market different from another is interaction, something which, unfortunately, does not exist in Kuwait due to disappointments and pressure as there is no desire to buy shares in spite of the fact that the price levels of several stocks are excellent, he pointed out.

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