EGX Not To Shut Down On Current Events; Chairman Confirms

The Chairman of the Egyptian Exchange Mohamed Omran has asserted that the EGX will regularly resume its trading sessions on Sunday at 10:30 a.m. Cairo time (08:30 GMT). Dr. Omran indicated that the EGX management has no intentions of halting its trading amid the current political events.

According to a statement made to state-run news agency MENA, the EGX Chairman said no matter what happened, the bourse will not consider ceasing its operations. He referred the demands for halting the EGX’s trading as “astounding and baseless.”

Dr. Omran further added that the calls for closing the EGX due to the potential of witnessing downwards driven by the current events do not make any sense as the trading on capital market is based on upturns and downturns and it is not quite sound to shut down the bourse, whenever the country witnesses another incident.