KSE remains bullish; trading activity rises

KUWAIT: Kuwait Stock Exchange (KSE) continued its bullish trend for the third week pushed up by increased trading activity. The index continued its upward movement bringing more gains to the year 2009. As measured by Global's weighted General Index, KSE was up by 7.53 percent at the end of the week and closed at 223.43 points. On year-to-date basis, the index added more gains reaching 8.24 percent as it touched its highest level since December 24, 2008 at the last trading session of this week.

However, forthe month of May 2009 the index gain reached 10.66 percent.The Kuwait Stock Exchange (KSE) price index was also up, adding 351.80 points (4.39 percent) this week as it closed at its highest level since last December at 8,370.50 points.

The market capitalization reached KD36.24bn. Market breadth strongly skewed towards advancers as out of 180 shares traded this week, 124 stocks advanced against 33 closed at lower prices.