Court order closes Kuwait bourse after dramatic losses

November 13th, 2008 - 9:13 pm ICT by IANS  

Kuwait, Nov 13 (DPA) The oil-rich Gulf state of Kuwait halted its share trading by a court order on Thursday after significant losses on the Kuwait Stock Exchange (KSE), Kuwait news agency KUNA reported.The court decision came to prevent further losses among traders, after the KSE price index fell to 8,691 points Thursday, a drop of 160.1 points.

Director of KSE Saleh al-Falah was informed of the court’s decision early Thursday, he said that the suspension will continue until Nov 17, KUNA reported.

The Kuwait Stock Exchange is among the first and largest stock exchanges in the Gulf region.

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