The Capital Markets Authority issued Resolution No. 30 of 2020 directing all companies listed on Boursa Kuwait not to approve their financial statements ending on March 31, 2020 and to postpone their disclosure to both the Authority and Boursa simultaneously until the deadlines set for their financial statements ending on June 30, 2020 and related provisions.
The decision is responsive to the effects of the state’s health measures in addressing and addressing the threat of the spread of the Corona virus, and the consequent inability to adhere to legal and regulatory periods regarding the disclosure of financial statements. A number of regulatory institutions in the global and regional markets have pursued the delay for the same reasons, in accordance with their regulations and business environment.
The performance of Boursa Kuwait for last week (4 working days due to Isra & Al Miraj Holiday) was mixed where the traded value, traded volume and number of transactions decreased, while the general index (AlShall index) increased. AlShall Index (value weighted) closed at 422.7 points as of last Thursday, showing an increase by 27.8 points or by 7% compared with its level last week. While it remained lower by 130.5 points or by 23.6% compared with the end of 2019.