MIDEAST STOCKS-Saudi rebounds from Khashoggi slide as institutions buy | Reuters:
Saudi Arabia’s stock market rebounded sharply on Monday from losses suffered in the wake of the disappearance of dissident journalist Jamal Khashoggi, as local institutions bought shares actively.
The Saudi index - which had plunged 7.2 percent in the previous two days on fears that Khashoggi’s case could trigger U.S. sanctions against Riyadh and shrink inflows of foreign investment - jumped 4.1 percent in heavy trade, erasing Sunday’s losses.
A Saudi treasury banker said he believed the rebound was aided by government-linked funds intervening to support the market, as they did late last year when a corruption inquiry unsettled investors.
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