Egypt's benchmark stock exchange surged on Thursday and oil prices eased on relief after the ouster of Mohammed Morsi as Egypt's president didn't result in large-scale violence as some had feared.
Despite the relief there was plenty of political uncertainty, especially over how Morsi's Muslim Brotherhood would respond and whether they would turn to the type of militancy Egypt experienced in the 1990s. Several senior leaders of the Muslim Brotherhood were held by the military on Wednesday.
"I think this was a coup d'etat by the military even if it has a lot of support from the public right now and whether it's called that or not," Steven Fish, professor of political science at the University of California, told CNBC Asia's "The Call."
"Everyone is relieved by the coup but the military doesn't do a good job of ruling. Morsi's government was the first democratically elected government Egypt had for a while and that makes it hard for a new government to declare legitimacy. So the situation is very complicated," he added.