Pakistan stock market plunges and triggers trading halt as geopolitical tensions escalate

Glonghui, March 2｜The Pakistani stock market plummeted on Monday as geopolitical tensions in the Middle East intensified following military strikes by the United States and Israel against Iran. According to a statement released by the Pakistan Stock Exchange, the KSE-30 Index dropped 9.6% in early trading, triggering a one-hour trading halt. The exchange stated that trading would resume at 10:27 a.m. local time. Meanwhile, the Pakistani rupee remained relatively stable, with data showing the exchange rate holding at around 279.86 per US dollar. Pro-Iranian protesters also appeared across Pakistan. On Sunday, in the major port city of Karachi, protesters attempted to storm the gates of the US consulate, clashing with police and resulting in at least 10 deaths. At the same time, tensions with Afghanistan have also escalated, with Pakistan declaring an "open war" status with Afghanistan. Both sides have conducted cross-border strikes, with attacks reaching as far as the Afghan capital, resulting in at least several hundred deaths.