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Kuwait investors dump financial stocks

The KSE Market Index headed 1.12% lower on Sunday, closing at 5,849.8 points. While the largest lender National Bank of Kuwait finished unchanged at KD1.060, traders mostly sold Kuwait International Bank (off 1.81%), Gulf Bank of Kuwait (down 1.96%) and Burgan Bank (2.10% lower). According to The National in Abu Dhabi, GCC debt markets begin to feel the heat of the sovereign debt crisis in the Euro Zone, which pushes up refinancing costs globally.