MIDEAST STOCKS-Saudi edges up to chart barrier, Qatar slips before MSCI decision:
"Saudi Arabia’s stock market edged up to technical resistance on Thursday while Qatar’s bourse softened, as regional trade was thinned by the closure of markets including the United Arab Emirates, Kuwait and Egypt for public holidays. The Saudi index added 0.5 percent to 7,004 points, rising for a seventh straight day to test resistance around 7,000 points, which has capped the market since mid-October and roughly coincides with the 200-day average, now at 7,014 points. The market was hurt this month by Saudi Arabia’s massive crackdown on corruption, but in recent days there have been signs the damage is fading, with some detained suspects reaching settlements with the government and the number of frozen bank accounts falling after exceeding 2,000 at one stage."
'via Blog this'
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