traders warned against on­line mis­in­for­ma­tion

Kuwait Times - - LOCAL -

KUWAIT: Kuwaiti ex­perts warn traders in­vest­ing in Boursa Kuwait against seek­ing in­for­ma­tion about the bourse listed com­pa­nies from so­cial me­dia re­sources to take in­vest­ment de­ci­sion. CEO of Al-Riyada Fi­nance and In­vest­ment Com­pany Mo­han­nad Al-Sane urged in­vestors to be cau­tions of in­ac­cu­rate analy­ses on the in­ter­net and seek guid­ance from cred­ited and cred­i­ble ex­perts. He ex­plains fur­ther that some of trans­ac­tions’ re­ports posted on the net­works are pre­lim­i­nary and oth­ers are merely ru­mors.

Mo­ham­mad Al-Tar­rah, Chair­man of Traders As­so­ci­a­tion, called on the traders to fol­low up on re­leases by the Cap­i­tal Market Author­ity (CMA) be­cause it is wellinformed on the com­pa­nies’ sta­tus. More­over, the bourse web­site posts ev­ery day in­for­ma­tion about them, thus the in­vestors can use these data to take sound de­ci­sions.

As to yes­ter­day’s ses­sion, trades were dis­tin­guished with pre­dom­i­nance by small com­pa­nies. Stocks of 54 com­pa­nies posted gains while 31 oth­ers in­curred losses. The key in­dex, Kuwait-15, which re­flects op­er­a­tions in blue-chips, drew up to 11.9 mil­lion shares, val­ued at KD 5.5 mil­lion, done in 467 spot deals thus the bench­mark set­tled upon clos­ing at 884.2 points.

Boursa Kuwait price in­dex closed in a bullish man­ner, to some ex­tent, gain­ing 4.7 points and set­tling at the level of 5,672.4, thus post­ing spot value at KD 13.4 mil­lion through 160.4 mil­lion stocks, done in 3,653 cash deal­ings.

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