Egyptian stock market re-opens Wednesday

The South African economy is at a crucial crossroads and wrong decisions about the direction it takes could see the country left wallowing in low, jobless growth while other emerging markets power ahead, Investec Asset Management strategist Michael Power warned this week. Photo: Reuters

The South African economy is at a crucial crossroads and wrong decisions about the direction it takes could see the country left wallowing in low, jobless growth while other emerging markets power ahead, Investec Asset Management strategist Michael Power warned this week. Photo: Reuters

Published Feb 12, 2011

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Egypt's stock exchange will re-open on Wednesday after being closed for nearly three weeks due to widespread political unrest in the country, state media reported.

There has been no trading since January 30, after the benchmark EGX30 index lost 17 per cent of its value in its last week of trading amid the turmoil.

The 18 days of unrest eventually forced President Hosny Mubarak to step down on Friday.

On Tuesday, officials had said that the stock exchange would have reduced trading hours once it reopened, with more than 10

exceptional rules also to be applied in the first week of trading to support the market.

It was not immediately clear if these rules would still apply when the bourse opens on Wednesday. -

Sapa-dpa

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