Sunday, 2 December 2012

Kuwait elects new parliament, stocks rally | Reuters

Kuwaitis have elected a parliament including many newcomers which may prove more government-friendly than its predecessor but could lack legitimacy in the eyes of some due to a low voter turnout.

Kuwait's stock index .KWSE rose to a six-week high with retail investors more confident the government would be able to follow through on plans to develop the economy.

About 39 percent of the 422,569 eligible voters cast ballots, according to a Reuters calculation based on voting figures posted on Sunday on an Information Ministry website. It was not clear if the figures included invalid votes and ministry officials were not immediately available for a comment.

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