Wang Jianlin, chairman and founder of property and entertainment company Dalian Wanda, lost more than 10 per cent of his total wealth on Monday, according to the Bloomberg Billionaires Index, which tracks the world's richest people.
Shanghai shares Monday collapsed by 8.49 per cent, the biggest daily loss since 2007, sparking a vast sell-off in global financial markets as concerns mounted that a slowdown in the world's second-largest economy could hurt global growth.
Shanghai fell an additional 7.63 per cent on Tuesday.
The close was the lowest since December 15 last year - and below the symbolically significant 3,000 point mark - while Bloomberg News said it marked the steepest four-day rout since 1996.
Wang was the biggest loser at the end of trading on Monday, according to the index, which updates at the end of each day. Figures for Tuesday were not immediately available.
Despite the loss, his wealth has increased by $6 billion this year. China's second richest person Jack Ma, founder of e-commerce giant Alibaba, lost only $545 million on Monday, according to the index.
Beijing launched a huge rescue package after shares collapsed in June, which has included funding the China Securities Finance Corp. to buy stocks on behalf of the government and barring major shareholders from selling their stakes.
In the latest move, Beijing said on Sunday it would allow the state pension fund - which had 3.5 trillion yuan ($548 billion) of assets at the end of 2014 - to buy stocks.
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on March 21, 2023 (Tuesday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||340.5||344|
|Hong Kong Dollar||HKD||35.9||36.25|
|New Zealand Dollar||NZD||176.66||178.6|
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 204,700 on Tuesday.The price of 10 grams of 24k gold was recorded at Rs175,500.
Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,849.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
|Lahore||PKR 204,700||PKR 2,390|
|Karachi||PKR 204,700||PKR 2,390|
|Islamabad||PKR 204,700||PKR 2,390|
|Peshawar||PKR 204,700||PKR 2,390|
|Quetta||PKR 204,700||PKR 2,390|
|Sialkot||PKR 204,700||PKR 2,390|
|Attock||PKR 204,700||PKR 2,390|
|Gujranwala||PKR 204,700||PKR 2,390|
|Jehlum||PKR 204,700||PKR 2,390|
|Multan||PKR 204,700||PKR 2,390|
|Bahawalpur||PKR 204,700||PKR 2,390|
|Gujrat||PKR 204,700||PKR 2,390|
|Nawabshah||PKR 204,700||PKR 2,390|
|Chakwal||PKR 204,700||PKR 2,390|
|Hyderabad||PKR 204,700||PKR 2,390|
|Nowshehra||PKR 204,700||PKR 2,390|
|Sargodha||PKR 204,700||PKR 2,390|
|Faisalabad||PKR 204,700||PKR 2,390|
|Mirpur||PKR 204,700||PKR 2,390|
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