Kuwait set for emerging market status

Kuwait’s stock market will be added to S&P Dow Jones Indices’ Global Benchmark with an emerging market classification, Kuwait’s market regulator has said.

It’s the latest good news for Kuwait, one of the standout performers in Gulf markets this year, and ahead of MSCI’s decision on whether to reclassify its Kuwait index from the current frontier-market status to its widely used emerging-market benchmark. The move would be effective before the market opens on September 23, 2019. (Reuters)