MIDEAST STOCKS- Apparent state support aids Saudi, Qatar blue chips rebound | ZAWYA MENA Edition:
"Saudi Arabia's stock market closed flat on Thursday, apparently in response to buying by state-linked funds, while Qatar rebounded from a six-year low as blue chips regained strength.
The Saudi index spent most of the day lower and was down as much as 0.9 percent before a burst of buying in the final 20 minutes lifted it to close 0.02 percent higher - a pattern seen on almost every day since the government announced a sweeping anti-corruption purge two weeks ago.
Many asset managers believe that with over 2,000 bank accounts frozen in the purge and many tycoons and individual investors alarmed by the huge extent of the crackdown, state-linked funds have been mounting an operation to stabilise the market and prevent panic from spreading."
'via Blog this'
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