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Kuwait Weekly Update Research

19th of January 2012 Market Performance: The Kuwaiti market closed on a Positive note this week. The Price index gained 0.9% closing at 5,798.50 points. The Weighted index was also up, gaining 1.01% and closing at 402.88 points. Liquidity and activity levels increased during the week. Value traded expanded by 34%. During the week the market traded 1.66Bn shares with a value of KWD151.1mn.

Layla Al-Ammar Assistant Manager +965 2224 8281 Humoud Salah N AL Sabah Assistant Analyst +965 2224 8530 Kuwait Financial Centre S.A.K. (“Markaz”) P.O. Box, 23444, Safat 13095 Ahmad Al-Jaber Street, Universal Tower Kuwait Fax: +965 2245 0647

Sector Performance This week’s traded value was derived from activities on the Services sector 25.4% contribution, followed by Investments and Real Estate with 23% and 19.9%, respectively. Kuwait Remal Real Estate attracted 10.5% of the value traded (KWD 15.8 mn); the stock closed up 36% at KWD 0.465. HITS Telecom Holding was second on the most active list with 10.1% of this week’s value traded or KWD15.2mn. Stock’s performance was negative [-4.95] at KWD 0.077. Loser, winners 132 companies were traded during the week out of which 56 closed positive, 45 were negative and 113 unchanged. Ekttatab Holding was the biggest gainer by booking a return of 38% and closing at 69 fils; 56.6mn shares were traded valued at KWD 3.39mn. On the other side of the spectrum, Industrial & Financial Investment was the biggest loser; the stock declined by 22.2% to 28 fils. 80,000 shares worth KWD 2,280 were traded during this week.

Figure 1- Market performance

Kuwait Weekly Update Research Figure 2- Sector Indicator

Kuwait Weekly Update Research GAINERS Ekttatab Holding Kuwait Remal Real Estate Al-Madina For Finance and Investment Gulf Franchising Alsalam Group Holding

19-Jan 69.0 465.0 70.0 20.0 168.0

12-Jan 50.0 340.0 52.0 16.0 138.0

% chg 38.0% 36.8% 34.6% 25.0% 21.7%

LOSERS Industrial & Financial Invest. Alargan International RE Livestock Transport & Trading Kuwait Commercial Mkt Complexes Al-Safat Tec Holding

19-Jan 28.0 122 192 41 57

12-Jan 36 144 222 46 63

% chg -22.2% -15.3% -13.5% -10.9% -9.5%

No. of Companies listed in KSE No. of companies traded Gainers Losers No change Most Active Kuwait Remal Real Estate HITS Telecom Holding National Bank of Kuwait Alsalam Group Holding Gulf Finance House Date Sun. 15 Jan Mon. 16 Jan Tue. 17 Jan Wed. 18 Jan Thu. 19 Jan KSE cap-wtd in week % YTD % KSE price-wtd in week % YTD % Volume traded Value traded

214 132 56 45 113 Value KD 15,822,550 15,266,440 11,057,250 9,267,920 6,791,720

Price 465 77 1,140 168 45 Price index 5,765.4 5,762.8 5,789.4 5,800.4 5,798.5 Current week 402.88 1.0% -0.7% 5,798.50 0.9% -0.3% 1,663,507,500 151,111,390

% chg 36.8% -4.9% 1.8% 21.7% 2.3% Value traded (KD) 35,015,480 20,813,510 39,326,220 28,217,710 27,738,470 Last week 398.86 -0.1% -1.7% 5,746.90 0.3% -1.2% 1,206,120,000 112,469,120

Markaz Research Offerings Economics MENA Unrest (Apr-11) Kuwait Development Plan (Mar-11) Kuwait Investment Sector (Sept-10) The New Regulations on Kuwait Investment Sector (Jun-10) Kuwait Capital Market Law (Mar-10) The “Vicious Square” Monetary Policy options for Kuwait (Feb-08) To Leap or To Lag: Choices before GCC Regulators (Apr-07) GCC for Fundamentalists (Dec-06) GCC Leverage Risk (Nov-06)


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MENA Real Estate MENA Market Outlook Kuwait Qatar Syria

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Periodic Research Real Estate Strategic Research MENA Real Estate Perspectives Weekly Real Estate Market Commentary

Dubai Jordan

Strategic Research KSE 15 Index (Sept-11) How is the GCC preparing for a AA+ World? (Sept-11) GCC Outlook 2H11 (Aug-11) What to expect in 2011 (Jan-11) The Golden Portfolio (Sept-10) Persistence in Performance (Jun-10) What to expect in 2010 (Jan-10) What is left for 2009? (Sept-09) Missing the Rally (Jun-09) This Too Shall Pass (Jan-09) Fishing in Troubled Waters (Dec-08) Down and Out: Saudi Stock Outlook (Oct-08) Mr. GCC Market-Manic Depressive (Sept-08) Global Investment Themes (June-08) To Yield or Not To Yield (May-08) China and India: Too Much Too Fast (Oct-07) A Potential USD 140b Industry: Review of Asset Management Industry in Kuwait (Sep-07) A Gulf Emerging Portfolio: And Why Not? (Jun-07) Derivatives Market in GCC (Mar-07) Managing GCC Volatility (Feb-07) Periodic Research

International Real Estate Market Outlook U.S.A. Banking

Stress Testing Kuwait Banks (May-11) GCC Banks - Done with Provisions? (Jan-10) Shelter in a Storm (Mar-09) Banking Sweet spots (Apr-08) Oil & Gas Diworsification: The GCC Oil Stranglehold (Jan-09) Monthly Regional Petroleum Projects Commentary Daily Oil & Gas Bulletin

Annual GCC Market Outlook Quarterly Thought Speaks GCC Equity Funds GCC Corporate Earnings GCC Equity Research Statistics Monthly Market Review Weekly MENA Market Intelligence KSE Market Review International Market Update Daily Markaz Daily Morning Brief Markaz Kuwait Watch Daily Fixed Income Update Company Research (See the list attached)

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