Kuwait's bourse hits a three-month high, extending gains since the government said it would double the portion of state revenue it puts into a rainy day fund, while UAE markets dip as weak global cues spur traders to book gains.
Kuwait's index climbs 0.6 percent to finish at 5,928 points, its highest finish since June 19. It slumped to an
eight-year low in mid-August.
The government last week said it plans to raise the portion of state revenue it puts into the fund to 25 percent this fiscal year. The move is thought to be aimed at investing state money more efficiently.
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