Kuwait Stock Exchange among top 10 performing markets in world

Kuwait Stock Exchange among top 10 performing markets in world

KUWAIT CITY - Bloomberg News reported that in terms of the US dollar, the Kuwaiti, Abu Dhabi and Qatar stock exchanges are among the top 10 performing markets in the world this year, noting that however, Brent crude prices have fallen by 22 percent from their peak last June, which presents this high risk, reports Al-Rai daily.

Bloomberg added according to the investors there is limited scope for the listed stocks in the Gulf markets to continue their recovery, which competes with the performance of global markets in light of fluctuating oil prices and the slowdown in the global economy, due to the strict policies of central banks, noting that the region whose markets are dominated by banks and energy companies, benefited from the high interest rates and oil prices this year, as well as from US President Joe Biden’s meeting with Saudi Crown Prince Mohammed bin Salman last month. But investors are now concerned about lower oil prices and risks to corporate profits and global growth, amid continued tightening by the Federal Reserve and other major central banks.

The MSCI GCC Composite Index is up 7.9 percent this year after rebounding in July, compared to a 15 percent drop for the