Stocks Observer. com

Bloomberg Report Pakistan’s three stock exchanges will seek a review of a decision by a regulator to impose penalties for last year’s trading curbs. “We have decided to file an appeal,” Karachi Stock Exchange Spokeswoman Anita Mirza said by telephone today, without giving details. The fines were the first action by the regulator against the bourses after the restriction. Competition Commission of Pakistan imposed a 6 million rupee ($74,626) penalty on the Karachi Stock Exchange, it said in a statement yesterday. It also fined the Lahore Stock Exchange 1 million rupees and the smaller Islamabad bourse 200,000 rupees. “It is a healthy sign for the market development,” said Habib -ur-Rehman, chief executive officer at Atlas Asset Management Ltd. in Karachi, who manages $45 million worth of assets. “This practice of unnecessary intervention in market should be discouraged, it has harmed the market in many ways.” The curbs, which had prevented the benchmark Karachi 100 Index from trading be...