Pakistan is defying some long-held investing myths

AS THE Iran war drags on, emerging markets powerhouses are reeling from the closure of the Strait of Hormuz, one of the oil trade’s most important routes.

Turkey’s foreign reserves are depleting at record pace, India is considering all options as the rupee plunges to record lows and Indonesia delivered a jumbo interest rate hike to defend its currency.

If these heavyweights are struggling, what chances are there for smaller nations?