Egypt stock market and limited effect by Hong Kong turmoil

Last week's turmoil at the Hong Kong stock exchange had a very limited impact on the Egyptian stock market, said Egypt's Capital Market Authority (CMA) Hameid Ibrahim yesterday.

"The aftereffects of the crash did not last more than two hours," he said. The Egyptian official elaborated that some cash-strapped foreign investors hit by the stock market crisis in southeast Asia, had to sell their security at the Egyptian stock exchange, El Ektsady weekly said today.