Category: Afghanistan

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Partners raise aid at UN donor’s conference for Afghanistan

Participants also expressed that Afghanistan remains at the centre of the strategies of donor organizations and countries….reports Asian Lite News

The United Nations hosted a donor’s conference for Afghanistan in Dubai.

According to Khaama news, both domestic and international organizations, along with political representatives from various countries participated in the conference held on October 3 and discussed aid to Afghanistan, which is currently under Taliban control and facing a severe humanitarian crisis.

They exchanged views on the best approaches towards the situation and reaffirmed their commitment towards continuing to offer humanitarian support to the people of Afghanistan.

Participants also expressed that Afghanistan remains at the centre of the strategies of donor organizations and countries.

However, they stressed that “it is the responsibility of all stakeholders to create conditions where Afghans can sustain themselves through employment, rather than relying continuously on international aid,” the news outlet said

The conference also addressed the challenges posed by the Taliban’s new restrictions under the “Promotion of Virtue and Prevention of Vice” law. This law has imposed severe limitations, particularly against women. Under this law, women cannot leave their homes without a male guardian, and their voices are considered indecent in public spaces.

According to UNHCR, after more than four decades of conflict and instability in Afghanistan, an estimated 23.7 million Afghans – over half of the population, including women and girls – are in immediate and dire need of humanitarian and protection assistance.

An estimated 28 per cent of the population – or about 12.4 million people – is expected to face acute food insecurity before October of this year. Of those, nearly 2.4 million are predicted to experience emergency levels of hunger, which is one level below famine, UNHCR noted.

Some countries and international organizations have also expressed concerns that the Taliban may misuse humanitarian aid for other purposes.

Karen Decker, the US Charge d’Affaires for Afghanistan, who attended the donors’ conference, told the media that since the fall of the Afghan Republic, the United States has provided $2.3 billion in humanitarian aid to Afghanistan. Decker also mentioned that the results of the work conducted by two economic and narcotics groups from the “Doha 3” discussions would soon be reviewed by the United Nations, and the next major Doha meeting will also take place, as observed by Khaama.

India has been an active partner in supporting Afghanistan to become an empowered country on all fronts.

Earlier this year, EAM Jaishankar said in an interview that people-to-people connections lay the foundation of the relationship between the two nations. He highlighted that New Delhi is supporting Afghan people by providing humanitarian assistance, including food, essential medicines and pesticides.

India has routinely supported the call for Afghanistan’s development process to be “an inclusive, Afghan-led, Afghan-owned peace process.”

The call for a long-term solution emphasizes that Afghanistan’s future should not rely solely on aid. Sustainable employment and self-sufficiency must be at the core of any strategy to help Afghanistan’s people build a better future, Khaama noted. (ANI)

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Russia hosts meeting of Moscow Format talks on Afghanistan

The statement added that participants reaffirmed their support for Afghanistan during Friday’s meeting….reports Asian Lite News

Moscow hosted the 6th meeting of the Moscow Format of Consultations on Afghanistan, according to a statement by the Ministry of Foreign Affairs.

The statement added that participants reaffirmed their support for Afghanistan during Friday’s meeting.

“On October 4, Moscow hosted the 6th meeting of the Moscow Format of Consultations on Afghanistan. The sides unanimously reaffirmed their support for Afghanistan’s development as an independent, unified, and peaceful state.”

The meeting saw the participation of special representatives and senior officials from Russia, India, Iran, Kazakhstan, Kyrgyzstan, China, Pakistan, Tajikistan, and Uzbekistan. Afghanistan’s Acting Foreign Minister, Amir Khan Muttaqi, attended as the main guest, the statement said.

During the meeting, participants reaffirmed their support for Afghanistan’s development as an independent, unified, and peaceful state and expressed their readiness to assist Kabul in counter-terrorism and anti-drug efforts.

The participants showed interest in developing regional infrastructure projects involving Afghanistan and noted the promising nature of economic, trade, and investment cooperation with Kabul.

The sides highlighted the importance of international humanitarian aid for Afghanistan, emphasising that such aid should not be politically motivated.

A joint statement was adopted by the participants of the Moscow Format Consultations on Afghanistan.

The parties expressed deep concern over the security situation related to terrorism in Afghanistan, noting that terrorist and separatist groups based there continue to pose a serious threat to global and regional security.

They called for strengthening counter-terrorism cooperation at both bilateral and multilateral levels, emphasising that Afghanistan should be supported in taking comprehensive measures to address both the symptoms and root causes of terrorism and eradicate it swiftly.

The participants urged Afghanistan’s de facto authorities to take visible and verifiable actions to fulfil the international obligations and commitments made to combat terrorism, dismantle and eliminate all terrorist groups in a non-discriminatory manner, and prevent the use of Afghan territory against neighbouring countries, the region, and beyond.

The parties reaffirmed their unwavering support for Afghanistan as an independent, united, and peaceful state. They rejected attempts by third countries to deploy military infrastructure in Afghanistan or its neighbouring states, arguing that such actions do not serve regional peace and stability.

The participants also noted the promising development of economic and trade exchanges, along with investment cooperation between Afghanistan and regional countries. They expressed interest in developing regional economic projects with Afghan participation and in promoting progress in fields such as healthcare, poverty alleviation, agriculture, and disaster prevention, to help Afghanistan achieve independent and sustainable development at the earliest possible date. They supported the active integration of Afghanistan into regional connectivity efforts, the statement added.

The parties reiterated their commitment to continuing humanitarian support for the Afghan people and called on the international community to intensify the provision of emergency humanitarian assistance to Afghanistan while opposing any attempts to politicise such aid.

The participants also called for moderate, prudent, and inclusive governance by Afghanistan’s de facto authorities, urging them to protect the basic rights and interests of all Afghans, including women, girls, and all ethnic groups, and to continue efforts to meet the needs of the Afghan people.

The parties urged the Afghan authorities to create the necessary conditions to improve the welfare of the Afghan people, prevent further migration, and facilitate the return of refugees. They expressed appreciation for Iran, Pakistan, and other regional countries hosting millions of Afghan refugees and called on the international community and donors to provide assistance.

The parties emphasised the significant role of regional frameworks in Afghanistan’s recovery and urged the countries primarily responsible for the current situation in Afghanistan to fulfil their commitments to the country’s economic recovery and future development. (ANI)

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-Top News Afghanistan Arab News

Tribal clashes: Pak-Afghan Kharlachi border reopens after 9 days

The closure of this key border crossing caused great trouble for the residents as essential items such as food commodities…reports Asian Lite News

The major Afghanistan- Pakistan border crossing at Kharlachi in the Kurram district of Khyber Pakhtunkhwa province was opened on Tuesday after being closed for nine days following clashes between tribal communities near the border area, as reported by Geo News.

The closure of this key border crossing caused great trouble for the residents as essential items such as food commodities, medicines, fuel and other necessities had been exhausted thereby creating problems for the local population.

The clashes took place between the tribes in central Kurram and tribes in the Balishkhel areas of Khyber Pakhtunkhwa, which intensified as the violence spread to other areas like Pewar, Teri Mangal and Kanj Alizai which are close to major routes connecting Afghanistan to Pakistan.

Elders belonging to the Turi-Bangash tribes had called for immediate action from the authorities to resolve the issue amicably.

Geo News noted that the police authorities said the clashes between rival tribes had stopped and peace was restored in the area. To ensure protection, security forces and police personnel were deployed at key positions. It was observed that after days of deadly clashes, the warring tribes had agreed to a ceasefire earlier as well that lasted for about a month.

Khyber Pakhtunkhwa Governor, Faisal Karim Kundi said that at least 60 people had died in the locality of Parachinar and dozens of others were injured as a result of violence erupting again in the region. The governor’s remarks came about a week after the second round of clashes began over the construction of trenches and continued unabated for multiple days.

The tribes have been warring due to a land dispute between them which had witnessed armed clashes in August that resulted in 50 casualties and wounded 226 others. This was followed by a two-month ceasefire after intervention from authorities. Police had said that the recent clashes at various places resulted in the closure of the Peshawar-Parachinar road. Due to the closure of roads and markets, people were facing severe difficulties in accessing basic necessities and services, as noted by Geo News.

Kurram Deputy Commissioner Javedullah Mehsud had said measures were being taken to reopen routes and establish permanent peace by preventing the clashes with the help of the tribes’ elders and jirga (assembly of tribal leaders).

Meanwhile, separate jirgas of different tribes were convened that discussed ways and means to effect a ceasefire and restore lasting peace in the region.

According to Geo News, tribal leaders Jalal Bangash, Engr Hamid Hussain, Member of the National Assembly and parliamentary leader of the Majlis Wahdat-e-Muslimeen (MWM), Malik Zaman Hussain among others had said that no one would benefit from the ongoing conflict and that a trivial issue between two families escalated into violent clashes due to the negligence of the administration and other responsible authorities. (ANI)

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‘Academic freedom in Hong Kong nosedived after security law’

The HRW report also claimed that the leadership in these eight universities have enforced abusive policies and has repeatedly harassed the once-influential student unions….reports Asian Lite News

The educational freedom in Hong Kong continues to decline after the Chinese government imposed the National Security Law on the city on June 30, 2020.

Many important aspects of education, like civil liberties, including the rights to freedom of expression, assembly, and association, are under attack due to the imposed law as students and teachers continue to be fearful of being targeted and harassed.

A recent report titled, “‘We can’t write the Truth anymore’: Academic Freedom in Hong Kong Under the National Security Law,” released by Human Rights Watch (HRW), an international human rights watchdog claimed freedom of expression, assembly, and association are under assault in eight of Hong Kong’s eight publicly funded universities.

According to the same report by HRW, “These universities have become increasingly repressive, students and faculty widely self-censor, fearful of being targeted for harassment, retribution, and even prosecution for what they say and do both in the classroom and on campus”.

Maya Wang, associate China director at Human Rights Watch “Hong Kong students and faculty, accustomed to academic freedom, now have to tread carefully to avoid retribution for what they teach, research, and publish, and even with whom they associate. The Chinese government considers gaining ideological control over Hong Kong’s universities a top priority, and many students and faculty now find themselves in the line of fire”.

The HRW report also claimed that the leadership in these eight universities have enforced abusive policies and has repeatedly harassed the once-influential student unions.

The report claimed that the members of these student unions can no longer effectively function as elected representatives of the student bodies. According to the report ” They have scrubbed clean notice boards known as “Democracy Walls,” and removed from campuses memorials that are reminders of the Chinese government’s 1989 Tiananmen Massacre of pro-democracy protesters”.

University administrations have also penalised students for holding peaceful protests and gatherings; censored student publications, communications, and events; and used university security guards to monitor students in public spaces. However, none of the universities gave a comment on the matter when asked by the HRW.

According to HRW, the report is based on interviews with faculty and students from all eight publicly funded Hong Kong universities, and a review of media reports in both Chinese and English.

The interviewed individuals claimed that they regularly self-censor in the classrooms, when they write and publish articles, apply for academic funding, and deliberate over which speakers to invite to conferences and events. Many others claimed that they have also faced. One such interviewed individual said that his university reported him to the Hong Kong police for an academic article he wrote that discussed the artwork made during the 2019 protests. (ANI)

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-Top News Afghanistan Asia News

Afghan women endure historic oppression, says UN chief

Last month, the Taliban announced that a new law on the “Propagation of Virtue and the Prevention of Vice,” will be in force in the country….reports Asian Lite News

United Nations Chief Antonio Guterres expressed deep concern over the situation in Afghanistan, likening it to some of the most egregious systems of oppression in recent history.

Sharing a post on X, Guterres said, “What is happening in Afghanistan can be compared with some of the most egregious systems of oppression in recent history.”

He added, “I join all countries and organisations demanding that the de facto authorities remove all discriminatory restrictions against women and girls immediately.”

Last month, the Taliban announced that a new law on the “Propagation of Virtue and the Prevention of Vice,” will be in force in the country.

Issued on August 21 by Afghanistan’s Ministry for Promoting Virtue and Preventing Vice, the new law orders women to cover their bodies and faces entirely and not speak or sing loud enough for non-family members to hear them.

The document of the law published in the official gazette imposes its interpretation of the Islamic Sharia law.

Women’s voices, it says, are now considered as ‘awrah’, or intimate parts, and may only be experienced in cases of necessity. The orders related to hijab are described, and it is said that it is essential to cover the whole body of the woman and it is necessary to cover the face due to the fear of temptation.

In addition, the law states that the ombudsmen are responsible to prevent the drivers from playing music, using drugs, transporting women without hijab, providing a place for women to sit and mingle with men who are not mahrams, and from being wise and mature.

“It is haram for unrelated men to look at the bodies or faces of unrelated women, and it is haram for unrelated women to look at unrelated men,” the law ratified by Taliban leader Hibatullah Akhundzada states.

Punishment for these “crimes” will be carried out by the Taliban’s Muhtaseebs or morality police who have the authority to detain individuals for up to three days.

Notably, the Taliban have attempted to partially defend their new laws by claiming they are intended to safeguard women. The regime has recently begun tightening down on men, with morality police visiting mosques and inspecting for those who haven’t grown beards.

Long before the Taliban came to power, Afghanistan granted women the right to vote in 1919, a year before the United States. It opened its first schools for girls in 1921, according to The Washington Post. (ANI)

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Amnesty condemns extrajudicial killings in Pakistan, slams blasphemy laws

Amnesty condemned the recent police killings of two individuals accused of blasphemy in separate incidents within a week…reports Asian Lite News

Amnesty International, an International human rights watchdog, has raised serious concerns about the ongoing extrajudicial killings of individuals accused of blasphemy in Pakistan, calling out the government for failing to protect basic human rights, including the right to life and freedom of religion.

In a statement on X, Amnesty condemned the recent police killings of two individuals accused of blasphemy in separate incidents within a week.

On September 19, a doctor accused of blasphemy was gunned down by police officers in what authorities termed a ‘police encounter’ in Umarkot, Sindh.

This incident followed the September 12 killing of a blasphemy suspect by a police officer while in custody in Quetta, Balochistan. Amnesty has criticized the Pakistani authorities for evading accountability in these cases, particularly pointing to how the family of the victim in Quetta was allegedly pressured to forgive the police officer under the country’s laws, which allow heirs to pardon murderers of the blasphemy victims.

This latest spate of violence underscores a troubling pattern of impunity for those involved in blasphemy-related killings.

Since May 2024, four individuals accused of blasphemy have been lynched by mobs in different parts of Pakistan, including Sargodha of Punjab province, Swat of Khyber Pakhtunkhwa, Quetta of Balochistan, and Mirpurkhas of Sindh province in Pakistan.

Amnesty International called for an impartial and independent investigation into these incidents, urging Pakistani authorities to prosecute those responsible through fair and transparent trials. The organization also reiterated its demand for the repeal of Pakistan’s controversial blasphemy laws, which it argues have long been used to justify violence and perpetuate discrimination against religious minorities in Pakistan.

Pakistan’s blasphemy laws have frequently been criticized by international human rights organizations for being overly broad and misused, often leading to mob violence and extrajudicial killings. Despite these growing concerns, the Pakistani government has yet to take meaningful steps toward reforming or repealing these laws, which many see as tools for oppression rather than justice.

As calls for justice grow louder, Amnesty’s statement shines a harsh light on Pakistan’s deteriorating human rights record and the government’s failure to protect vulnerable communities from violence. The international community continues to pressure the authorities to not only bring those responsible for these killings to justice but also to address the root cause by dismantling the blasphemy laws that have led to countless lives being lost. (ANI)

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Afghanistan reopens its embassy in Oman

This move highlights the Taliban’s ongoing efforts to establish a more formal diplomatic presence…reports Asian Lite News

Afghanistan’s Embassy in Oman has officially reopened, signaling the Taliban’s growing diplomatic presence in the Gulf region. Zia Ahmad Takal, the deputy spokesman for the Foreign Ministry in Kabul, confirmed that the embassy in Muscat resumed operations on Sunday. This comes after the United Arab Emirates accepted a Taliban ambassador last month, and follows the Taliban’s July declaration that they no longer recognize diplomatic missions set up by the previous, Western-backed government of Afghanistan.

While there has been no immediate confirmation from Omani authorities, Takal emphasized that the embassy is now staffed by diplomats from the Taliban-led government. He noted that the resumption of the embassy’s activities, facilitated through cooperation with Oman, is expected to enhance political, economic, social, and religious relations between Kabul and Muscat. Takal also confirmed that 39 diplomatic missions globally are now under Taliban control.

This move highlights the Taliban’s ongoing efforts to establish a more formal diplomatic presence, despite most countries still not recognizing them as Afghanistan’s legitimate government. The Taliban have been in power for three years and continue to face limited internal or external opposition. Nevertheless, they have pursued closer bilateral ties with key regional powers.

In line with this diplomatic push, Uzbekistan’s Prime Minister, Abdulla Aripov, visited Afghanistan last month, making it the highest-level visit by a foreign official since the Taliban took control in August 2021. Meanwhile, embassies in London and Oslo have closed, reflecting the international community’s divided stance on how to engage with the Taliban as they extend their control over Afghanistan’s overseas diplomatic missions.

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Afghan forces seize large amount of weapons, war equipment

Fifteen people were arrested in connection with the case and their dossiers were referred to the judiciary for further investigation…reports Asian Lite News

 The Afghan security forces have seized a large amount of weapons and military equipment during a series of operations in the past three months in southern Afghanistan’s Helmand province, the provincial police office said in a statement.

The contraband, which included nine Kalashnikovs, 41 pistols, two AK-47 rifles, six US-made M16 machine guns, five grenades, 15 various types of mines, and a quantity of war equipment, such as cartridges and bullets, Xinhua news agency reported, quoting the statement.

Fifteen people were arrested in connection with the case and their dossiers were referred to the judiciary for further investigation, it said.

The Afghan caretaker government, which vowed to collect arms and ammunition from anyone outside the security forces, has discovered and seized thousands of light and heavy weapons including tanks since it took over power in Afghanistan in August 2021.

Taliban suspends polio vaccination

The United Nations (UN) announced on Monday that the Taliban has suspended all polio vaccination campaigns in Afghanistan.

UN agencies said that they were notified about the suspension just days before the scheduled September immunisation campaign, though no official reason was provided.

Representatives from the Taliban-led government did not comment on the situation immediately.

Afghanistan and Pakistan remain the only two countries in the world where the spread of the paralysing and potentially fatal disease has not been eradicated.

Despite the polio eradication programme’s continuous efforts in Afghanistan, the last phase of the campaign to achieve polio-free status has faced significant challenges.

Over the past three years, the number of polio cases have risen in the country, with the virus spreading to provinces that had remained free of the disease for an extended period.

UNICEF, in collaboration with the Ministry of Public Health (MoPH), the World Health Organization (WHO), and various non-governmental organisations, has been working through the Emergency Operating Centre (EOC) to explore innovative methods to ensure every child is reached with vaccines.

The focus was also on building trust and demand for vaccination campaigns among the population.

So far, 16 Afghan provinces have been affected, with a total of 56 cases of Wild Poliovirus type 1 (WPV1) reported.

The southern region of Afghanistan remains the most severely impacted, accounting for 66 per cent of the country’s total polio cases in 2020.

Despite the ongoing challenges, the polio programme has ensured 100% adequacy of vaccine supplies for all polio-related activities, including immunisation campaigns, case responses, and the deployment of Permanent and Temporary Teams (PTT).

The successful introduction of vaccines such as mOPV2, mOPV1, and tOPV for case response campaigns has been made possible through capacity building in vaccine management and accountability.

Even during the Covid-19 pandemic, the polio programme managed to conduct three National Immunisation Days, two Sub-National Immunisation Days, and three Case Response Campaigns across Afghanistan.

However, the current suspension by the Taliban adds uncertainty to future vaccination efforts, raising concerns about the ongoing fight to eliminate polio in the country.

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Afghanistan Asia News PAKISTAN

An economic parasitic relationship between Pakistan and Afghanistan

The influence of Pakistan on the Afghan political scenario has always far exceeded that of any other foreign power. The massive role that Pakistan has played throughout in ensuring a constant state of chaos and disruption to fill its coffers is well evident through its (again, not so) coveted action of arranging funding for the Taliban, writes Dr Sakariya Kareem

Over the last many decades, Pakistan has been involved in managing a two-face where it is bound to join the international coalition against terrorism, but at the same time (not so) covertly supports the terrorist activities and wars in its neighborhood. Moreover, Pakistan has not used wars only to support its political agenda but has also shown vicious rent-seeking behavior to benefit its economy by supporting the war. A clear and unfortunate example of the same is Afghanistan, where Pakistan has been fuelling its economy at the cost of the war-torn nation.

The influence of Pakistan on the Afghan political scenario has always far exceeded that of any other foreign power. The massive role that Pakistan has played throughout in ensuring a constant state of chaos and disruption to fill its coffers is well evident through its (again, not so) coveted action of arranging funding for the Taliban. It has also been financially supporting the Taliban’s activities in Afghanistan, along with diplomatic assistance to their missions. The support has not just been financial but also extended to the capacity-building of the militia. Pakistan has been involved in providing training and recruitment of resources to the Taliban to inflict terror and perpetuate war in the region.

Pakistani military has been a major beneficiary of the conflict in the region. For long, the smuggling business between the two has worked as a symbiotic economic relationship between the Taliban and the Pakistan army, characterized by smuggling of goods from Pakistan to Afghanistan. Moreover, there has been evidence produced by Human Rights Watch that how Pakistan military advisers have been involved in ensuring the effectiveness of the military operations of the Taliban on the battlefield.

Historically, it has been of interest for Pakistan to ensure a state of chaos in Afghanistan for several reasons. One reason stems from the colonial past, with the conflict about the Durand Line, resulting in the erstwhile Afghan governments’ refusal to accept the border and demand for Pashtun territories. Secondly, the rise of the Taliban was unacceptable to India, eliminating the chances of amicability between formal Afghan governments and India, which added to the reasons for Pakistan to support the Taliban for its border security, again at the cost of the Afghani population.

Pakistan has been preying on Afghanistan for procuring resources for running its own economy for decades. During the Cold War era, Pakistan’s economy was faltering due to oil price shock, crop failure, floods, and curtailment of aid from the West. At that time, Pakistan found avenues through its involvement in the war in Afghanistan to earn revenues. In 1979, it got involved in a proxy war against the USSR invasion of Afghanistan, reaping economic support from the USA and Saudi Arabia. Thus, the assembly-line production of mujahideens became an important economic activity for Pakistan, for which it was well-compensated, eventually helping Islamabad to pull the economy out of a slump.

The terrorist production factory of Pakistan got further impetus during the 1979 Islamic revolution in Iran. In order to ensure a stronger disposition for Sunni Muslims in Pakistan in the wake of Iran’s revolution, Saudi Arabia gave massive funding to Islamabad. This led to a cultural change as well in Pakistan, through increased radicalization via education, ensuring continuous supply, and a “reserve army of terrorists.”

Cut to the 2000s, in the backdrop of 9/11 and the US’s global war on terror, Pakistan received massive compensation of US$62.2 billion from the US for providing bases and transit facilities for Afghanistan operations till 2010. However, in late 2018, under the Trump administration, there was a slackening of the relations and funding to Islamabad.

Currently, Pakistan’s economy is staggering and facing its worst economic crisis since independence. The economy, over the last two years, has faced massive floods and has been hard hit by inflation, along with the burden of a pandemic. The IMF, with many stringent conditions, has agreed to provide a $7 billion bailout package to Pakistan. However, many experts fear that the bailout package will not ensure sustainable growth of the economy if measures are not taken to stabilize the economy.  Moreover, given the exceptional record of Pakistan, of maintaining a parasitic relationship with its poor neighbour, experts opine that Islamabad is looking for yet another sadistic-strategic move into Afghanistan with the re-rise of Taliban after 2021. However, the IMF funding, fear of FATF and global opposition to the Afghan Taliban are major barriers to Islamabad’s possible intentions to unscrupulously support its crumbling economy.

The recent Pakistan airstrikes in Afghanistan are a result of months of tensions between the two states. The blame game is on where Pakistan warns Afghanistan to limit the Tehrik-e Taliban Pakistan’s (TTP) activities, and Afghan Taliban, in return, asks Pak to address their grievances. The strikes backfired against Pakistan. As they alleged, the strikes did not kill any TTP leader, but rather, civilians were murdered.

(Str/Xinhua/IANS)

However, despite the TTP, which threatens Pakistan’s safety, there is no apparent strong motivation in Pakistan to vehemently oppose the Taliban. This may be due to its expectations to limit India’s influence on the Taliban in the future and use the Taliban again as prey for the extraction of quick-fix economic benefits. It is yet to see when and how Pakistan, yet again executes its economic parasitic policies towards Afghanistan.

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Investors scramble after Trump-Harris debate

Investors hammered the shares of Trump Media & Technology Group, which have been popular among retail traders and sensitive to the former president’s chances of a win in the 2024 election…reports Asian Lite News

Investors are scrambling to shift their positioning following the closely-watched debate between US Republican Donald Trump and Democratic Vice President Kamala Harris, as betting markets swung in Harris’s favour after the event.

Shares of Trump Media & Technology Group, the company that owns Truth Social, fell 13 percent on Wednesday afternoon, while other so-called Trump trades such as Bitcoin and crypto stocks retreated. Solar stocks, seen as benefitting from a Harris win, rallied and healthcare shares fell.

In a combative debate late Tuesday, Trump and Harris clashed over everything from the economy to immigration, as each sought a campaign-altering moment in what has been a closely-fought race.

Their exchanges left investors with few new details on United States issues that could sway markets, including tariffs, taxes and regulation. But online prediction markets showed bets on a stronger likelihood of a Harris win in November: Harris’s odds in PredictIt’s 2024 presidential general election market improved to 55 cents from 53 cents before the debate, while Trump’s odds slipped from 52 cents to 47 cents.

There is a “general view that Harris won the debate,” said Alvin Tan, head of Asia FX strategy at RBC Capital Markets in Singapore. “It’s obviously not a slam dunk for Harris, but the chances of a Trump victory have slipped a bit.

While the presidential race is very much on investors’ minds, political concerns have lately coalesced with more immediate market catalysts, including worries over a potentially softening US economy and uncertainty over how deeply the US Federal Reserve will need to cut interest rates.

The S&P 500 notched its worst weekly percentage loss since March 2023 last week after a second-straight underwhelming jobs report, though the index is still up around 15 percent this year.

Still, some investors believe even a small shift in perceptions of the candidates could prove significant in a contest that could come down to tens of thousands of votes in a handful of states. The candidates are effectively tied in the seven battleground states likely to decide the election, according to polling averages compiled by the New York Times.

“The US presidential debate achieved its goal by providing a decisive edge to one of the candidates in what has been an exceptionally close race,” said Charu Chanana, head of FX Strategy and global market strategist at Saxo. “Crypto and energy stocks might face headwinds as market sentiment adjusts to the shifting political dynamics.”

Trump has positioned himself as a pro-cryptocurrency candidate.

Investors hammered the shares of Trump Media & Technology Group, which have been popular among retail traders and sensitive to the former president’s chances of a win in the 2024 election. The stock fell by as much as 18 percent to a new post-IPO low of $15.30. Bitcoin was about flat on the day after slipping nearly 4 percent, while shares of some cryptocurrency-focused companies including crypto miner Riot Platforms also fell.

Stock of operators of correctional facilities, including GEO Group and CoreCivic, viewed as likely to benefit from tougher immigration policies, also slipped.

At the same time, US-listed shares of solar companies, seen as benefitting from a Harris win, rose. The Invesco Solar ETF, down about 25 percent for the year, jumped 5 percent on Wednesday.

Health insurer stocks including Humana and CVS Health were also down on Wednesday. Some analysts believe Harris’s push to lower drug prices may weigh on the sector.

Trump has promised lower corporate taxes and a tougher stance on trade and tariffs. He has also said a strong dollar hurts the US, though some analysts believe his policies could spur inflation and eventually buoy the currency.

Harris last month outlined plans to raise the corporate tax rate to 28 percent from 21 percent, a proposal that some on Wall Street believe could hurt corporate profits.

Steve Chiavarone, senior portfolio manager at Federated Hermes, said a Harris presidency, seen as less likely to widen budget deficits through higher spending, could help support Treasury prices while also boosting large-cap growth and tech stocks.

US-focused policies such as tax cuts and tariffs in a Trump presidency could buoy small-cap stocks and cyclical companies while hurting bonds, he said.

On Tuesday night, Harris attacked Trump’s intention to impose high tariffs on foreign goods – a proposal she has likened to a sales tax on the middle class – while touting her plan to offer tax benefits to families and small businesses.

ALSO READ: Harris, Trump clash on Afghanistan