Monday 01, September 2008 by Mike Gallagher
Investors keep bailing as Ramadan begins
The sell-off in Middle Eastern stocks continued on Monday as the first day of the holy month of Ramadan saw the Kuwait SE falling by 1.62 per cent to 14212, making it the biggest declining bourse in the region. The KSE fell back to levels last seen in early March when the Kuwait market was going in the other direction. Kuwait Bahrain International Exchange Company fell back by 8.33 per cent to KWD 0.275, while Automated Systems Company also lost 8.33 per cent to leave its stocks selling for KWD 0.495. However, Safwan Group had a better day as its stock rose by 8.2 per cent to KWD 0.330.
