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Kenyan Stocks Are World's Worst Performers as Interest Cap Bites

  • Domestic policies worsening sell-off amid global concerns
  • Country’s shares trading at discount to frontier markets

Kenyan stocks are being pummeled by a combination of market-unfriendly policies and a strong dollar.

The country’s main equity index has fallen 14 percent this quarter, the most among 95 global indexes tracked by Bloomberg. Stocks in East Africa’s biggest economy are in a bear market after sinking 24 percent from a record high in April.