Trading halted on Pakistan's benchmark share index, shares sink 6%

Karachi: Trading was halted for an hour on Thursday at the Pakistan Stock Exchange after the benchmark index plunged 6.3 per cent, a notification from the exchange showed.

Pakistan's international bonds also came under pressure with the 2036 maturity suffering the biggest losses, down more than 1 cent to be bid at 73.8 cents in the dollar, Tradeweb data showed.

The country's benchmark share index closed down 3.1 per cent after opening down almost 6 per cent on Wednesday.

"The situation has raised fears about an escalation between the two counties, and it represents another example of how the Global South is likely to prove increasingly important for the global backdrop," Jim Reid, global head of macro and thematic research at the Deutsche Bank, said in a note.