A natural disaster of biblical proportions, nuclear meltdown, burning oil refineries, a tragic death toll, and Japan’s Nikkei braves the conditions and remains open for regular trading. By contrast, the Cairo and Alexandria Stock Exchange has been shut down for almost six weeks, pulling out excuse upon excuse to protect against market corrections that become more self-fulfilling and inevitable by the day. Egypt once housed one of the five largest stock exchanges in the world…little wonder it no longer does.
|The sun shall rise again|
Update 23 March 2011 - a good comparison of the difference in approach between the Japanese and Egyptian market regulators, on the occassion of what is finally set to be the day trading resumes on the Cairo and Alexandria Stock Exchange (still with ill-advised trading limits). Let the markets speak.