By: Ahmad Awad
Kuwait-Mubasher: The banks sector of Kuwait Stock Exchange (KSE) witnessed heavy sales by foreign investors during the sessions of Tuesday and Monday.
Foreign institutions and funds performed sale transactions after statements attributed to the governor of the central bank, that warn against the risks of downgrading the state’s credit rating on the Kuwaiti dinar and its purchasing power, said directors of investment funds, who requested to remain anonymous.
Moody’s has put Kuwait’s credit rating under review for two months for a possible downgrade, after the government was seen failing to take the proper measures for facing lower oil prices on the long-term.
Shares of KSE’s banks sector saw a semi-collective decline on Tuesday, with Boubyan Bank closing in the green zone solely.
