Assets held by Kuwaiti investment companies slumped by US$ 32 billion in the six months to January as a result of the global economic meltdown, official media said on Tuesday.
The assets of 99 Kuwaiti investment firms slid 31% to US$72 billion from US$104 billion at the end of July, the KUNA news agency reported, citing official figures.
The drop reflected a 45% or US$26 billion decline in their holdings of companies listed on the Kuwait Stock Exchange, as well as falls in local mutual funds and investments abroad.
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