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Sunday, 22 January 2017

MIDEAST STOCKS-Kuwait's market surges in strong Gulf, tax fears continue to hit Egypt | Daily Mail Online

MIDEAST STOCKS-Kuwait's market surges in strong Gulf, tax fears continue to hit Egypt | Daily Mail Online:

"Share prices in Kuwait jumped in very heavy trade on Sunday, the top performing market in a strong Gulf region, while tax fears continued to weigh on prices in Egypt.

The Kuwaiti market index surged 3.2 percent, its biggest rise in more than two years, to a 23-month high, while trading volume was the biggest since mid-2013. The index is up 15.6 percent so far this year, far outperforming other Gulf bourses. The narrower Kuwait 15 index of blue chips is up 9.6 percent.

The market attracts little non-Arab foreign investment and with a trailing price/earnings ratio near 15 times, it is not cheap compared with its neighbours or emerging markets in general."



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