Pakistani Riots over Stock Exchange

CHEN:
And in Pakistan on Thursday, hundreds of angry investors, upset by plunging Pakistani share prices, smashed windows of Karachi Stock Exchange and set fires in front of the Islamabad exchange. They're demanding a temporary closure of the market. Let's go to that report.

STORY:
A drain on investor confidence accelerated on Thursday, as stocks fell over 4 percent and the rupee 1.3 percent by midday due to fears of political uncertainty and dire economic challenges.

Close to one thousand mostly small investors gathered in the gardens of the bourse to demand that the Karachi Stock Exchange (KSE) be closed for two days. Two injured people were taken away after the protest turned violent.

Chanting slogans critical of the government, they were also demanding for the launch of a market stabilization fund without further delay. Authorities have proposed the launch of a 50 billion rupees fund.

[Mohammad Zubair Khatri, Investor]:
"There is a limit and that limit is over. The investors are now on road ruined. Their shares are not selling and the rates have come down to 25 percent. This has resulted in this ransacking."

In the eastern city of Lahore, some 100 small investors burnt tyres and blocked the road to the local bourse to demand government action. In the Pakistani capital Islamabad, dozens of angry investors set fire to share documents and files after hurling them out of the Stock Exchange building.

Analysts say together with inflation, a depreciating exchange rate and worries over fuel prices, the main risk to macroeconomic stability comes from the weak coalition government.

Dealers say the 3-1/2 month old government could not change Pakistan's weak economic fundamentals overnight, but it needed to show greater leadership and what was needed at this point was aggressive action from the government to lift sentiment.

Category:

News & Politics

Tags:

• NTD
• NTDTV
• news
• Riots
• Pakistan
• Karachi
• Stock-Exchange
• KSE
• Lahore
• inflation

[cybertrader69]

at least their people stand up for themselves. americans just love anal

[MegaBhatti1987]

@cybertrader69 hahahahaahha! lol

[P4Pak]

@CompleteNonBeliever

You're stupid.. We don't live in Caves man!!

[somedudefromsuburb]

zuahahah i have always wanted to dothe same thing when the stocks plunge

[t1cTacJ0e]

hahaha

what did people expect around the world ? gold biscuits to descend from the skies ?

its the recession baby - we're more depressed and lamer than ever, so move out of my way before I throw this TV set at your head :-D

[CompleteNonBeliever]

is there a SE in paki land? wow

is it run by the taliban?

do women work there

are the trades undertaken under the veil?

one thing for sure they are dirty little mother fuckers.

[GHettobye]

seen it yesterday! lets chat

this video was good AB