Pakistan: Protests at Exchange
The police surrounded Pakistan’s biggest stock exchange to thwart violence by investors demanding a trading halt as price curbs imposed after the biggest slump in a decade locked up their money. “There are no longer any small investors left in the stock market, they have all been destroyed,” said Kausar Qaimkhani, chairman of the Small Investors Association, leading a group of about 50 shareholders outside the Karachi Stock Exchange. “The market should be closed till funds are arranged.” Board members of the exchange are deciding whether to extend six-week-old rules that prevented stocks from falling below their Aug. 27 closing prices after rejecting calls from brokers to shut the market. The benchmark Karachi Stock Exchange 100 index rose 2.89, or 0.03 percent, to 9,184.24 at the 2:15 p.m. local time close.
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