Cairo:
Egyptian authorities announced on Sunday that they would reopen the nation's stock market on Tuesday, a month after shutting it down because of the widespread protests that unseated the former president, Hosni Mubarak.
The country's benchmark index, EGX30, fell nearly 17 percent in the two days before the government halted trading on January 27.
The reopening has already been delayed several times, most recently last week, as protests continued by Egyptians demanding reform from the newly established military leadership.
At the same time, stock indexes across the Middle East have been hit with losses in recent weeks, reflecting investor unease as widespread political turmoil unsettles the region.
A violent crackdown by the government in Libya continues to incite fears of higher oil prices, which have been pushing stocks lower around the world.
The Saudi Arabian benchmark stock index fell 5 percent on Sunday, to its lowest level in more than six months, while the main index in Oman fell almost 3 percent. So far, unrest in the region has unseated the Egyptian and Tunisian leaders and left Libya's fighting to retain control. Investors have feared that these trends could stall a global recovery.
Violence has erupted in Libya, the largest holder of crude oil reserves on the African continent, as Col. Moammar el-Gaddafi struggled to maintain power. The fighting helped send oil prices in New York above $100 a barrel last week for the first time in more than two years.
Other indexes in the region also faltered, albeit more modestly. Dubai declined less than 1 percent on Sunday, bringing its total losses for the year to more than 10 percent. Qatar's index dropped about 0.21 percent, bringing its losses for the year so far to 7.6 percent.