MIDEAST STOCKS-Gulf rebounds a bit after slide due to Saudi graft inquiry:
"Gulf stock markets rebounded slightly on Thursday after a jittery week in which most dropped because of concern about Saudi Arabia’s anti-corruption purge, which could reduce Saudi fund flows to the region.
The Saudi stock index spent most of the day lower before closing 0.3 percent higher. Similar trading patterns were seen every day this week after authorities announced the arrest of dozens of senior officials and businessmen in the investigation and froze over 1,700 domestic bank accounts.
Wealthy Saudi individuals, fearful that they could be implicated in the probe, have been dumping stocks to raise cash, in some cases intending to move the money out of the country, fund managers said."
'via Blog this'
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