Kuwait Traders Walk Out

KUWAIT — Dozens of traders walked off the trading floor at the Kuwait Stock Exchange on Thursday and staged a demonstration to urge more government support for the financial sector amid fears of global recession.

Read more...

By (AFP)

Published: Fri 24 Oct 2008, 11:53 PM

Last updated: Sun 5 Apr 2015, 2:25 PM

The protest, the first of its kind since 2006, came ahead of a lower close on most markets in the Gulf region amid anxiety about the world financial crisis and as crude oil prices remained at less than half their 2008 peak.

The main index on the Kuwait exchange, the second largest stock market in the Arab world, finished down three percent at 10,481.10 points, with several companies trading even below their nominal value. All eight sectors in the market dropped, with the investment and banking sectors diving by 2.6 per cent and 2.9 per cent, respectively.

Nasser Al Khorafi, chairman of Al Khorafi Group, the largest in Kuwait, called on the government to rescue the market.

(AFP)

Published: Fri 24 Oct 2008, 11:53 PM

Last updated: Sun 5 Apr 2015, 2:25 PM

Recommended for you