Wednesday, April 18, 2007

MTC Trading

As of the time of writing this there has been MTC trading worth KD 1,710,000,000. This is an unprecedented amount of trading for the entire Kuwait Stock Exchange ever and the market has not closed yet. The real surprise however is that no one has any clue what is going on?! Everyone is speculating.. Shares being sold to Emarati investors.. Saudi investors.. It's anyone's guess..

Why is the market silent on this?! This is a record trading volume, yet the investment community is left in the dark. It seems large shareholders of MTC and Wataniya before that have gotten into the habit of making big deals while leaving other shareholders behind with the blessing and silence of Kuwait Stock Exchange authorities! When will this come to an end?!


2 Second Club ® said...

I don't know, but it seemed to me that the most logical explination so far is that some people are switching portfolios.. what do you think ?

The Simper said...

the problem with so many issues in kuwait are conflicts of interest! which people who are in those positions would happily use it for the their own agendas.. what ever those agendas are.

go figure

The Simper said...

and ya.. nice blog.. first time visitor :)

Bu Ziyad said...

don: ur right the word is Khorafi switching portfolios.. and saqir complaining about it!

simper: yeah i wonder why the market authority was silent about it.. thanks and i hope many returns :)

Kinano said...

It's probably one of the big whales playing around to throw some of the little investors into some sort of a financial abyss!

It happened before, it happens everyday, and I suspect it will keep on happening.

Khrafi you say! Why am I not surprised?!

Anonymous said...

it seems the most plausible explanation is the big boys consolidating their positions into one vehicle although its not clear why.

another explanation was that they are just flexing their muscles although its a costly show. the exchange fees alone are in excess of 3 million KD (i dont think that includes the brokerage fees).

we should find out in a few days but boy were the fireworks interesting eh?

more and more kuwait seems to set itself apart - and it aint always positive.