The Egypt Stock Exchange goes to the global markets and the most important index takes 2% off

Egyptian stocks dropped strongly at the beginning of the week’s transactions, after the Cairo Stock Exchange reflected the world markets that have suffered heavy losses since the end of last week, due to the entry of new US Customs duties, and the countermeasures taken by other countries around the world. The main index of the Egyptian Stock Exchange lost about 4% during the first ten minutes of the session, before reducing it by 1058 Cairo time to 2.3%, while the shares lost 55 billion pounds of its value after it reduced from 88 billion pounds with the first ten minutes of today’s trading, and the stock exchange stopped trading at 11 shares. AMR AL -ALFI, head of stock strategies at Thunder Securities Trading, told Al -Sharq that what is happening “random refugees that are a good opportunity for the investors of the medium and long term,” added that “the impact of the Egyptian market on world markets is, especially in the absence of the loss of loss of loss of loss of loss. session. ” The strong declines came amid a collective decline in leadership shares, as ‘EFG Holding’ fell 2.4%, “Fawry” by 3.1%, “Commercial International Bank Egypt” 0.5%, “Beltone” 3.8%, “Talate Mustafa” 3.1%, and “Palm Hills” 4.2%. Ibrahim Al -Nimr, head of the technical analysis division in ‘Naeem to Mediation in Securities’, told Al -Sharq that the market has a strong sales pressure affected by the fall in global markets, in the case of the main index that can be at the support level of 30,250 points, as it can form an opportunity to an apostatical Close. period. “Deeper declines in the wave markets, Gulf Markets has recorded its worst daily performance since 2020, led by the Saudi Market, while the first market index in Kuwait and the Qatar Stock Exchange fell by more than 5%for each, and the Muscat stock exchange fell by 2.3%, and the Bahrain market with a rate of about 0.5%. Trump the imposition of customs duties of no less than 10% on all countries exported to the United States, including the Gulf States and Egypt, announced, in addition to additional fees of between 30% and 41% on imports from China, Japan and the most important European countries. The global supply chains and an increase in raw material prices, which threaten to cross borders effects that will not be delivered from any country.