Kuwait Stock Exchange on the global investment radar: Foreign trading hits five-year high
Ahmed Maghrabi
The Kuwaiti financial market has witnessed a gradual transformation in its presence on the global investment map in recent years, reflected in Kuwait’s upgrade and inclusion among the world’s most prominent emerging market indices. This shift has culminated in a surge of activity by foreign investors in the Kuwait Stock Exchange. Data from the Capital Markets Authority reveals that the average daily value of their trades reached 14.8 million dinars in 2025, marking the highest level recorded over the five-year period from 2021 to 2025.
These figures are closely tied to the market’s development journey, which passed through several key milestones, ultimately leading Kuwait to be classified as an emerging market by three leading global index providers: FTSE, S&P Dow Jones Indices, and MSCI. This classification has placed Kuwaiti stocks under broader scrutiny by global institutions and investment funds.
Following years of completed upgrades, data from the Capital Markets Authority highlights the evolution of foreign investor trading activity in the market between 2021 and the end of March 2026. The average daily trade value stood at 11.4 million dinars in 2021, followed by 11.2 million in 2022, before dropping to 7.6 million dinars in 2023. It then rose to 9.4 million in 2024, before jumping to 14.8 million dinars per day in March 2026.
Meanwhile, the average daily trading volume for foreigners rose from 9.4 million dinars in 2024 to 14.8 million dinars in 2025, representing an increase of 5.4 million dinars per day and a growth rate of 57.45%. In this regard, the 2025 level recorded a growth of 29.82% compared to 2021. Importantly, the average foreign trading volume in 2025 also surpassed the five-year average of 10.9 million dinars per day by approximately 3.9 million dinars, equivalent to 35.78%, placing 2025 at its highest level.
These figures carry additional significance in light of one of the Capital Markets Authority’s strategic indicators, which measures the growth rate of foreign trading value relative to total trading volume to assess the attractiveness of the local capital market to foreign investors and their confidence in it. The indicator recorded 15.4%, against a target of 15%.
Local liquidity accelerates
The increase in foreign investor trading was not isolated from the broader expansion in overall market activity. Kuwaiti investors also recorded a significant jump in their average daily trading volume, which rose from 33.7 million dinars in 2021 to 49.9 million in 2022, then to 36.6 million in 2023, and 50.6 million in 2024, before reaching 93.6 million dinars per day during the 2025/2026 fiscal year.
Consequently, the average trading volume for Kuwaitis in 2025 increased by approximately 84.98% compared to 2024, and exceeded the 2021 level by about 177.74%. It was also 76.94% higher than the five-year average of 52.9 million dinars per day. These figures indicate that the surge in activity during 2025 encompassed both sides of the market—local and foreign. The combined average daily trading volume for both groups, classified by nationality, reached approximately 108.4 million dinars, distributed between 93.6 million dinars for Kuwaitis and 14.8 million dinars for foreigners.
Institutions and funds
The data provide another indicator of the composition of investment activity in the stock exchange. The average daily trading value for funds and institutions reached 69.2 million dinars during 2025, an increase of 32.3 million dinars compared to the 2024 average, representing growth of approximately 87.53%. Meanwhile, the average daily trading volume for individuals stood at 39.1 million dinars, up by 16 million dinars from the previous year.
Market value of 53.2 billion dinars
This activity coincided with the total market capitalization of all companies listed on the Kuwait Stock Exchange reaching 53.2 billion dinars by the end of 2025, compared to an average of 45.1 billion dinars during the preceding five years. Thus, the market value was higher by approximately 8.1 billion dinars, or 17.96%, above the five-year average.
Specifically in the First Market, data show that the value of foreign investors’ holdings in August 2026 reached approximately 6.57 billion dinars, distributed across First Market companies, reflecting a substantial financial presence of foreign investors in the leading listed firms.
Furthermore, updated data from the Kuwait Clearing Company (KCC) reveal varying foreign ownership percentages in First Market companies during August 2026. The Clearing Company periodically publishes foreign ownership percentages resulting from transactions settled according to the T+3 settlement cycle.
