MIDEAST STOCKS-State funds support Saudi, GFH Financial boosts Dubai:
"Saudi Arabia’s stock market rose on Monday, apparently boosted by purchases of shares by state-linked funds, while a surge in GFH Financial lifted Dubai’s bourse. Data released by the Saudi exchange showed local individual investors were net sellers of stocks by a margin of about 13 percent last week because of the government’s sweeping anti-corruption probe, which has raised fears that people detained in the crackdown could dump assets. Foreign investors were net sellers by a bigger margin of 41 percent and Gulf investors were also net sellers. That left Saudi institutional investors net buyers by a large margin; most of them were government-linked funds deliberately supporting the market to avert a panic, many asset managers believe."
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