Egypt Bourse Risks Losing Foreign Money as Locals Protest
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Egypt’s bourse, home to the world’s worst performing benchmark index this year, risks losing international investment after failing to resume trading amid protests from local investors who fear deeper losses.
Exchange chairman Khaled Seyam stormed out of a news briefing on Feb. 28 after some investors angrily criticized a plan to start trading yesterday. Hours later, the bourse capitulated, saying it won’t open before March 6. Trading was halted after the Jan. 27 session, and a two-day decline of 16 percent, as a popular revolt led to President Hosni Mubarak’s ouster last month.