MSCI Emerging Markets Index News
ISLAMABAD: By the end of May, Pakistan is all set to be included in the MSCI Emerging Markets Index after 9 long years as the country is set to be reclassified from a frontier market to an emerging one.
During the past three months, the performance of the Pakistan Stock Exchange had not registered an impressive performance since it retreated from close to 50,000 points to almost 46,000, registering an overall 8% increase.
But the KSE-100 Index has gained 5.1% in four sessions and enabled the Pakistan Stock Exchange to stand at a record high of 51,073.14 points. It is pertinent here to mention that the Pakistan Stock Exchange was the top-performing market in Asia last year.
Ever since the MSCI announced last year that it would upgrade Pakistan’s status last year in June, foreign investors have been net sellers of over half-a-billion dollars’ worth of stocks.
According to the CEO of National Investment Trust (NIT), the news of Pakistan’s status upgrade is an uplifting one and is likely to attract foreign investment in the country.
Previously, countries whose status was upgraded from MSCI Frontier Markets to to MSCI Emerging Markets also attracted foreign investment.