The Capital Market Authority (CMA) In a press release published on April 25, 2020 announced its issuing No. 31/2020 appertaining to amendment in Book 5 of its executive memorandum allowing market maker to use treasury shares of listed companies in the market making operations, whether these shares are owned by the market-maker or are borrowed.
The decision expresses CPA’s supervisory role in developing its legislation in a manner that promotes the efficiency of the capital market’s activities and liquidity, encouraging and facilitating financing new projects through the market’s mechanisms. The statement also reaffirms the continuation of the modern pattern of the relationship between CPA and the licensed relevant persons in amending legislation through surveying their opinions concerning amendment. This is a good approach and practice that save a lot of expenses and benefit the national economy.
The performance of Boursa Kuwait for last week was more active (2 working days due to Eid Al Fitr Holiday), where the traded value, traded volume, number of transactions and the general index increased (AlShall index). AlShall Index (value weighted) closed at 439.9 points as of last Thursday, showing an increase by 10.7 points or by 2.5% compared with its level last week. While it remained lower by 113.3 points or by 20.5% compared with the end of 2019.