Kuwait, Saudi market performance July 2011

Indonesia stock info - Kuwait, Saudi market performance July 2011 ; Dubai Financial Market (DFM) ended flat (+0.04 per cent) as it fluctuated heavily during the month. Performance of DFM listed stocks started the month on a positive note, but selling pressure mounted later during the month and pushed the stocks to give away most of their earlier gains.

Meanwhile on the negative side, Kuwait market continued to perform poorly, and posted the steepest decline amongst its regional peers, down by 4.49 per cent as measured by Global General Index.

The Saudi market had a negative performance as well, ending the month of July 2011 down by 2.80 per cent. It seems that the market had ignored the positive first half corporate results, which grew substantially during the first half of 2011, with aggregate net profit of Saudi corporate reaching 47.5 billion rials, up by 26 per cent year-on-year. Instead, as investors’ attention was geared toward the debt crisis in Europe and the United States.

Trading activity was lighter in the month, as it usually is during the summer months, and prior to quarterly corporate results, as investors anxiously monitored the second quarter corporate results ahead of reshuffling their portfolios.

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