Kuwait bourse slips as Gulf markets lose $57.45 billion amid war jitters

2026-03-04 - 18:57

The Kuwait Stock Exchange maintained relatively balanced trading on Wednesday despite an active start, with the general index closing down 44 points, or 0.52 percent. Total liquidity reached 54 million dinars, including 46.6 million dinars in the Premier Market, which fell 50 points. The remainder was directed to the Main Market, which declined by 31 points. The downturn comes amid escalating tensions linked to the US-Israeli-Iran conflict, which weighed on regional sentiment. Gulf markets collectively lost about $57.45 billion in market value during the session, equivalent to 1.4 percent, reports Al-Rai daily. In the UAE, the Dubai Financial Market dropped 4.71 percent after trading resumed, while the Abu Dhabi Securities Exchange slipped 2.88 percent. Elsewhere, Bahrain’s market fell 1.3 percent, Qatar gained 0.75 percent, and Muscat rose 0.39 percent. The strongest performance came from Saudi Arabia’s Tadawul, with its benchmark index up 1.2 percent. Locally, quiet buying activity was noted across operational and defensive stocks, particularly in banking, food, and telecommunications sectors. Major shareholders maintained or even increased their strategic holdings, signaling confidence in companies’ resilience despite volatility. Foreign investments remain steady Foreign institutions and global funds kept their positions stable in Kuwait’s main market, with some increasing stakes in leading banking stocks including National Bank of Kuwait, Gulf Bank, Burgan Bank, and Kuwait International Bank. This steady foreign presence reflects continued confidence and a willingness to capitalize on market opportunities. Global markets react Globally, markets remain sensitive to Middle East developments. Oil prices extended gains, while gold and silver rebounded sharply after earlier losses. European equities and cryptocurrencies, particularly Bitcoin, saw recoveries. However, Asian markets remained under pressure. South Korea’s benchmark Korea Exchange temporarily suspended trading for 20 minutes after steep losses. The Kospi index, after opening 3.44 percent lower, deepened its decline to 8.1 percent at one point, triggering the exchange’s trading halt mechanism amid growing investor concerns over the escalating conflict.