Traders at Kuwait's bourse remain largely cautious

A lackluster atmosphere prevailed at Kuwait Stock Exchange (KSE) in latest past sessions in absence of new motives for substantial trading, Al-Oula Financial Brokerage Company said in a report. The KSE closed last session of the past week, Thursday, with the main indices in the red zone. The weighted index shed three points, the price index 12.6 and Kuwait-15 lost 9.43 points. In absence of new motives, traders focused on generating profits and selling stocks that reached high levels, relatively. However, most of the investors remained cautious amid expiry of the grace period for companies' financial revelations, Thursday. Some tended to avoid risks, as number of listed companies that might be suspended increased. Companies delay of disclosing their financial statements boosted the jittery sentiments among the traders. Al-Oula report indicated that latest reports about cooperation between the Government and the National Assembly (Parliament) fuelled speculations that investment would increase, however the traders centered on cheap chips in the latest sessions. Moreover, in shadow of reports about mounting MPs' interpellations of government officials, speculations and profit-pocketing are forecast to increase, with emphasis on small and medium stocks that could be dumped easily