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Egypt's stock exchange starts off 2019 on wrong foot

After a punishing 2018, Egypt’s stock exchange started 2019 on a downward path amid fears of repercussions from the US-China trade war and the emerging markets crisis.
A trader works at the Egyptian stock exchange in Cairo, Egypt September 20, 2018. REUTERS/Mohamed Abd El Ghany - RC1B28059140
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CAIRO — The Egyptian Stock Exchange (EGX) has been incurring severe losses in 2019, as the Jan. 17 session closed down 3.5 billion Egyptian pounds (around $195 million).

On Dec. 22, several newspapers reported that net transactions on the EGX also revealed heavy losses during 2018, with a market capitalization drop of around 80 billion Egyptian pounds ($4.5 billion), or about 9.7% of the exchange's total market capital of 825 billion pounds ($46 billion) as of December 2017.

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