MIDEAST STOCKS-Kuwait falls ahead of FTSE entry, other Gulf markets mostly rise | Reuters:
Kuwait’s stock market fell on Sunday, pausing after recent gains ahead of joining of the FTSE Russell emerging market index this week, which is expected to draw passive fund inflows.
Kuwait will join the emerging market index in two phases, on Sept. 24 and Dec. 24. Arqaam Capital estimates the inflows in the two phases combined at $1 billion.
Kuwait’s main index was down by 0.8 percent as National Bank of Kuwait (NBK) fell 1.5 percent and logistics company Agility dropped 1.9 percent.
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