Blue chips push rising stocks last week in Kuwait

The Kuwait Stock Exchange (KSE) reported an active andincreasing movement in last week's trading, buoyed by blue chips and demand forsmall-sized shares, an economic report showed here on Saturday. The price and weighted indexes went up by 2.23 percent respectively, while the KSX15 index fell by 0.06 percent upon closing, showed the report released by the Al OulaFinancial Brokerage Company.As many as 180.2 million shares worth KD 30.2 million (USD 107.5 million) weretraded in 4,937 transactions, the report added.Major investors' preferred stocks remained active as individual shares disappearedand cheap stocks continued to offer investment openings to buyers, it pointed out.Local financial institutions shifted attention to leading stocks on the basis ofpotential dividends and low risk haunting investors, it said.The report monitored some financial portfolios moving to non-Kuwaiti bank andinvestment shares for stock collections especially as some shares reached attractiveprice levels and there were growing forecasts for making profits.However, last week's deals were marred by some speculations led by investors incheap stocks that could lead to profits, the report indicated.