Looks like investors are angry after their stock market hits a losing streak, the largest in 18 years. Some say its because of fears that the ruling coalition might collapse but I suspect its something else.
So how do you take out your anger after market collapses and your life savings vanish?
Pakistan stock investors threw stones and smashed windows at Karachi’s stock exchange to protest the worst losing streak in at least 18 years, prompting intervention by the police and paramilitary officers.
There had to be another reason for all this volatility and reading further I found it. In my opinion, the main reason why the Pakistani market is crashing is that foreign investors are fleeing.
Foreign investors slashed their spending on Pakistani stocks to $62.2 million in the 11 months ended May 31, from $1.76 billion a year earlier, according to data compiled by the central bank. [via Bloomberg]
Looks like Musharraf had a lot of friends with money and strangely I feel like throwing a rock at Greenspan!
