Meanwhile In Karachi
A stock maret slide that has wiped out $30 billion of market value in three months, threatening to undo a 14-fold rally since 2001.
Pakistan investors stormed out of the Karachi Stock Exchange,
smashed windows and cursed regulators after the benchmark index fell for a 15th day, the worst losing streak in at least 18 years.
"I have lost my life savings in the last 15 days and no one in the government or regulators came to help us." said Imran Inayat.
Kauser Javed, who heads the Small Investors Association: "People have sold their assets in the last 15 days to meet payments and if things continue this way,
you will start hearing of suicides. The regulators always favor big brokers and investors."
The benchmark Karachi Stock Exchange 100 Index has dropped 35% from the record of 15,676.34 on April 18.
Losses have been even steeper in China and Vietnam, where stock indexes have fallen more than 48% in 2008.
Habib-ur-Rehman at Atlas Asset Management: "There has been some level of mismanagement by the authorities.
This may be due to their misperception that they can prevent the market from falling.
Investors have to learn to bear losses as they do gains."
The Nattering One muses... perhaps the US Government and investors should pay heed to Habib's words of wisdom.
Hattip to Bloomberg
Pakistan investors stormed out of the Karachi Stock Exchange,
smashed windows and cursed regulators after the benchmark index fell for a 15th day, the worst losing streak in at least 18 years.
"I have lost my life savings in the last 15 days and no one in the government or regulators came to help us." said Imran Inayat.
Kauser Javed, who heads the Small Investors Association: "People have sold their assets in the last 15 days to meet payments and if things continue this way,
you will start hearing of suicides. The regulators always favor big brokers and investors."
The benchmark Karachi Stock Exchange 100 Index has dropped 35% from the record of 15,676.34 on April 18.
Losses have been even steeper in China and Vietnam, where stock indexes have fallen more than 48% in 2008.
Habib-ur-Rehman at Atlas Asset Management: "There has been some level of mismanagement by the authorities.
This may be due to their misperception that they can prevent the market from falling.
Investors have to learn to bear losses as they do gains."
The Nattering One muses... perhaps the US Government and investors should pay heed to Habib's words of wisdom.
Hattip to Bloomberg
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