traders warned against online misinformation

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.