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Article: Cyprus' Stock Market Hits New Year Low

Article from:
Xinhua News Agency
Article date:
March 16, 2000
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Cyprus' stock market took another beating Wednesday when it closed at 520 points, 17 points or 3.23 percent down from the previous trading session to hit a new year low, the Cyprus Mail newspaper reported on Thursday.

Volume was 17.3 million Cyprus pounds (about 29.4 million U.S. dollars) as investors, seeing no reversal of the current downtrend, dumped more shares.

All sectors showed losses ranging from a massive 18 percent in the insurance sector to a less dramatic 0.9 percent for investment companies.

With a total 80-point loss since March 1, the market is struggling to keep its ...

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