Kuwait set to inject liquidity into stock market

Gov't ready to inject liquidity through sovereign wealth fund - minister.
Kuwait set to inject liquidity into stock market
STOCK SUPPORT: The setup of the bourse authority will help improve the conditions of the Kuwaiti market. (Getty Images)
By Reuters
Mon 12 Jul 2010 11:16 AM

Kuwait's government is ready to inject liquidity through its sovereign wealth fund the Kuwait Investment Authority (KIA) to support its stock market, a minister was quoted as saying on Monday.

The setup of the bourse authority will help improve the conditions of the Kuwaiti market, Kuwaiti daily al-Watan reported citing the Gulf Arab state's Trade and Industry Minister Ahmad al-Haroun.

Last week, the country's prime minister said that eighteen candidates have so far turned down the offer to head Kuwait's new markets regulator, but the government hopes to fill the post soon. [ID:nLDE66709E]

The Gulf Arab state's parliament approved in February a much-delayed bill to set up a watchdog for the bourse that has been plagued with irregularities in prices and disclosure.

Kuwait's bourse, the second largest in the Arab world, has 14 percent since April.

(Reporting by Eman Goma; Editing by Jason Benham)

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