Bloomberg report terms Pakistan's stocks 'world-beating'
- By Web Desk -
- Nov 20, 2019
ISLAMABAD: Pakistan’s strong economic indicators were endorsed on Monday after Bloomberg, the international economic journal, termed Pakistan stocks ‘world-beating’, ARY News reported
According to Bloomberg’s report, foreign investors have bought $64 million of the nation’s stocks this year, set for the first annual inflow since 2014.
The rally that’s helped Pakistan stocks trounce the rest of the world in the past three months is not done yet, the report read and added that Pakistan Stocks once again become an attractive market for big investors.
Read More: Bullish trend continues at Pakistan Stock Exchange
Pakistan’s KSE-100 Index has advanced to the highest level in seven months, after falling to the lowest in almost five years in August, amid attempts by the government to stabilize the economy with a $6 billion loan from the International Monetary Fund after a deficit blowout.
Meanwhile, bond yields have begun to fall after peaking around 14% mid-year, making debt investments less attractive, read the report.
The report admits that Pakistan made just enough progress on global anti-money laundering and counter-terrorism financing standards in October to escape being placed on a blacklist.