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Pakistan Stocks: Pak Suzuki, Indus Motor, Honda Atlas Cars

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Dec. 10 (Bloomberg) -- Pakistan’s benchmark Karachi Stock Exchange 100 Index rose 51.06, or 0.4 percent, to 11,620.15.

Pak Suzuki Motor Co. (PSMC PA), the nation’s biggest carmaker, dropped 2 percent to 69.85 rupees, its lowest level in more than two months, after the government increased the age limit on imported used cars to five years from three yesterday.

Indus Motor Co. (INDU PA), the second biggest carmaker, fell 0.6 percent to 252.83 rupees, the lowest in a month.

Honda Atlas Cars Pakistan Ltd. (HCAR PA), the third biggest, fell 3.4 percent to 10.97 rupees, the lowest since Oct. 18.

“The companies are falling because the new rule will affect their sales,” said Abdul Azeem, an analyst at Invest Capital & Securities Pvt. in Karachi.

To contact the reporter on this story: Khurrum Anis in Karachi at kkhan14@bloomberg.net

To contact the editor responsible for this story: Hari Govind at hgovind@bloomberg.net

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