MIDEAST STOCKS-Kuwait slides on day of FTSE entry, DSI continues to hurt Dubai | Reuters:
Gulf stocks opened in negative territory on Monday, mirroring a slide in Asian shares after China’s decision to cancel talks with the United States increased concerns about a protracted trade war.
The Kuwaiti main index slipped 0.3 percent in early trade, reversing some of its recent gains ahead of joining of the FTSE Russell emerging market index this week, a development expected to draw investment from passive funds.
Entry to the emerging market index will be in two phases, on Monday and on Dec. 24. Arqaam Capital estimates the inflows in across the two phases will reach $1 billion.
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