A decision was made today to extend the suspension of trading on the Egyptian Stock Exchange through Wednesday to allow work at banks to return to normal first. Experts expect the exchange to re-open either Thursday or Sunday.
Khaled Serri Seyam, head of the Stock Exchange, said in a press release that the decision to resume work will be announced 48 hours in advance of the start of trading.
The administration of the Egyptian exchange will be monitoring work at banks during the week for any interruptions due to protests or other disruptive factors, he said.
The Egyptian Stock Exchange has been closed since 30 January due to the mass pro-democracy protests which erupted on 25 January and led to the ouster of President Hosni Mubarak.
On 26 and 27 January, the Egyptian exchange’s main index dropped 16 percent, registering a loss of around LE70 billion or US$12 billion.
