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Kuwait Extends World-Topping Rally as Traders Dismiss U.S. Ban

  • Kuwait’s SE Price Index rises for 18 consecutive days
  • Iranian stocks are little changed; citizens banned from U.S.
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Kuwait stocks, the world’s best performers this year, extended a rally to an 18th day, the longest winning streak in over a decade, as the country moved a step closer to a debut sale of dollar bonds. Gulf markets showed no reaction to a U.S. travel ban on seven mainly Muslim countries.

The Kuwait Stock Exchange Index advanced 1.3 percent to 6,943.24 on Sunday, the highest level since November 2014. The Bahrain Bourse All Share Index finished at the highest level since 2015 and Oman’s MSM30 Index added 0.2 percent. Kuwait picked six banks to advise on its first international debt sale as the OPEC member shores up public finances after the slump in oil prices.