Stable exchange market no longer exists

Egyptian Bourse chief Mohamed Omran said Tuesday the era of stable exchange markets no longer exists.

In a statement, Omran said volatility of global markets became normal in the past few years, noting that it was premature to classify the current status of financial markets as a world crisis.

China's decision to devaluate its national currency was an indication of economic contraction, Omran said.

It is normal that investors responded by heavy sales in all markets until an evaluation of the situation comes out, he clarified.

Within this context, Omran called on the Egyptian government to study the impact of world markets on the Egyptian economy
Source: MENA