Kuwait Wealth Fund May Buy Kuwaiti Stocks, Asharq Al-Awsat Says

By Zainab Fattah

Sept. 21 (Bloomberg) -- The Kuwait Investment Authority may inject as much as one billion dinars ($3.75 billion) into Kuwait's stock market to alleviate sharp declines, Asharq al- Awsat reported, citing unidentified officials.

The Kuwaiti government last week urged the KIA, the country's $250 billion sovereign wealth fund, to infuse 300 million dinars into Kuwait's stock market, which has seen stocks lose 12 billion dinars in value so far this month, the newspaper said.

To contact the reporter on this story: Zainab Fattah in Dubai on zfattah@bloomberg.net