Kuwait's stock market continues upward

The Kuwait Stock Exchange (KSE) continued its upward trend for the third week in a row backed by reports about expected government measures to incentivize and address imbalances in the national economy, specialized economic reports said Saturday. Bayan Investment Company's weekly report said the market's has continued making gains amid growing purchase operations that almost covered all kinds of equities, particularly the leading and large-cap ones. It pointed that the market trading has been greatly impacted by the government announcement about studying a series of measures and moves to help national economy recover. The trading in the market was among the most active in weeks as investors rushed to purchase and speculate over equities for future gains. Data showed that for the annual performance, the price index of KSE ended last week recording 1.27 percent annual gains compared to its closing in 2011. Meanwhile, the Oula Wasata Brokerage Company, said in its weekly report that the market has ended trading last week up by 1 percent, which is the highest rise since October 18. The report pointed that the government's talk about new incentives to the market as well as the remarkable activity of the state-owned national portfolio in purchasing shares have given great impetus to the stock market as it encouraged worry investors to resume their active trading. It, however, cautioned that the return of traders' confidence is still in its first steps.