Arab Gulf stock exchanges closed this weekend on losses except the Kuwait Stock Exchage (KSE) that made simple gains, said a specialized economic report issued by Bayan investments firm on Sunday.
The Bayan report said losses were heavy in more than one of the Arab Gulf stock exchangse, exacerbating by the interrelation among these money markets, as the crisis arising from the protracted debt moratorium of the Global Dubai Group and Nakheel firm had the most influential effect on many of them, but at variant rates.
The Arab Gulf stock exchanges had been in tandem, as for the general trend, with their global counterparts that declined as well during the week, while the oil prices saw a retreat to be close to USD 70 affected by USD exchange rates, the report added.
The KSE had come out with a different performance from the other Arab Gulf stock exchanges as it showed a state varying between mixed and coherent despite the sustained effect of the debts of the Global Dubai Group on these money markets.
The KSE saw an anticipation mixed with caution as a result of the domestic political mobility and it reacted to the government's decision on answering the four interpellations submitted againt it in the National Assembly (Kuwait's parliament) in what may have a positive impact on the local economy, according to the report.
Activity of both of banking and services sectors had the most prominent influence on the KSE index during the last week. - Kuna