Move Over Saudi. Meet Stock Investors' New Darling in Gulf
- Eaton Vance favors Kuwait as country liberalizes market rules
- Kuwait Financial sees rally potential if MSCI confirms upgrade
Automobiles drive along a highway past skyscrapers in Kuwait City.
Photographer: Tasneem Alsultan/BloombergThis article is for subscribers only.
Once overshadowed by its bigger neighbors in the Gulf, Kuwait’s market has emerged as the new darling of global investors.
Kuwaiti stocks have outperformed most of their Persian Gulf peers since MSCI Inc. said in June that it might announce the upgrade of the nation to emerging-market status next year, joining the ranks of Saudi Arabia, the United Arab Emirates and Qatar. Money is already flowing in ahead of Kuwait’s Sept. 24 accession to FTSE Russell’s emerging-market benchmarks as efforts by the country’s market regulator to boost liquidity and attract international interest pay off.