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07/03/2011 00:00 AST
Political unrest in the region has eroded $140 billion in market capitalization from stock markets in the Middle East and North Africa over the past five weeks.
The market capitalization of 16 Arab bourses was valued at $862 billion on March 4, compared with $1.002 trillion on Jan. 25, a day prior to the political crisis in Egypt that triggered unrest across the Middle East, Reuters quoted a report from the Arab Monetary Fund on Sunday.
Arab stock markets gained about 9 percent in 2010 with their market capitalization touching $983.8 billion, the report from the Abu Dhabi-based fund said.
“The current situation offers uncomfortable echoes of the post-Lehman Brothers period when a bout of investor panic led to significant value destruction that bore little relation to economic fundamentals in a region that was soon to emerge from the crisis far more unscathed than its peers, said Jarmo T. Kotilaine, chief economist at the National Commercial Bank.
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Arab News
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