The Egyptian Stock Exchange And All Banks Will Be Closed For 30 Days.

Beijing time on the morning of January 30th, State TV television reported recently, because

Statistics show that in the first two trading days, the cumulative decline in Egypt's stock market has reached 16%.

On the 28 th of this month, Egypt's dollar denominated bond prices began to slide, pushing yields back to record highs.

Fitch Ratings downgraded Egypt's rating outlook from "stability" to "negative" on Friday.

Fitch said that the political turmoil in Egypt has seriously threatened domestic economic, financial and economic reform, and if the riots continue or intensify, the BB+ rating of the country may be downgraded.

Statistics show that the market value of the Egyptian stock exchange is the second largest in North Africa, second only to Morocco.

"No one expects to produce such a result, nor does it expect such a rapid development," said Mohamed Radwan, global sales manager of Pharos Holding for Financial Investment in Cairo.

He said: "the time frame for the current crucial impact on the market is between now and the final implementation of economic and democratic reforms."

It is reported that due to the current unrest in Egypt, the 28 largest stock market in the world has reached its biggest decline since November of last year, making the global demand for heat up, and the biggest increase since 2009.

On the 29 th of this month, Saudi Arabia's stock market hit its biggest decline since May 2010.