Kuwait Stocks’ Big Moment Lacks the Usual Pre-Upgrade Rally
- Country’s equities index is yet to recover from virus slump
- MSCI announces Kuwaiti emerging-market selections this week
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Kuwaiti companies will enter the popular emerging-market stocks benchmark compiled by MSCI Inc. this month. But you would barely know it looking at the main local equities index, which has failed to stage the customary rally before such an elevation in status.
MSCI is due to unveil its semi-annual index review on Tuesday, disclosing Kuwaiti shares to be added to the MSCI Emerging Markets Index that is widely followed by fund managers. The Gulf state’s inclusion, initially expected in May, was postponed due to operational difficulties associated with the coronavirus outbreak.