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Tue 27 Sep 2016 03:52 PM

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Kuwait bourse set to introduce new stock swing limit

Stock exchange will set a limit of 20% for the maximum daily rise or fall of individual stocks by November

Kuwait bourse set to introduce new stock swing limit
The stock market hall at the Kuwait Stock Exchange (AFP/Getty Images)

Kuwait's stock exchange will introduce a limit of 20 percent for the maximum daily rise or fall of individual stocks by November, Khaled Abdulrazzaq al-Khaled, chief executive of Boursa Kuwait, which operates the exchange, said on Tuesday.

The exchange will also introduce a circuit breaker mechanism providing for brief halts in trade with every move of 5 percent, he added. The new rules will replace the current range of limits for stock movements; these limits vary depending on the level of stock prices.

Boursa Kuwait is working with the regulator to begin establishing a secondary market for small and medium-sized enterprises that would open in 2017, Khaled told reporters.

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