Pakistani stocks fell Monday after the country's main exchange removed of a price floor introduced more than three months ago in a bid to stem financial turmoil.
The Karachi Stock Exchange's main 100-share index fell 259.71 points, or 2.9 percent, to close at 9187.10, a 2 1/2-year low.
The emergency floor had brought trading to a virtual standstill. With Pakistan still mired in political and economic uncertainty, analysts forecast the index will fall further, also to reflect the slide in equity values worldwide.
"The long closure has done a lot of damage," said Muhammad Sohail, a director of JS Global, a Karachi-based securities firm. …
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