Egypt's stock market falls 3.1 per cent in one hour on new capital gains tax

Ahram Online, Thursday 2 Jun 2011

EGX30 sees sharp decline after just one hour of trading on Thursday, continuing the downward trend started yesterday.

The EGX30, Egypt's benchmark stock index, has declined 3.10 per cent after one hour of trading on Thursday, continuing the downward trend started yesterday.

Analysts expected this deterioration would occur as a result of the new capital gains tax regulation announced yesterday.

Short link: