Pakistan emerges as world leader in stock market

ISLAMABAD: Pakistan’s economic prospects seem to have taken a turn for the better as the country reportedly left the world’s leading stock markets behind to register a surge of 30% in stocks during the last three months.

According to Bloomberg, Pakistan is currently leading the global stock market as Ireland reported a 20% increase followed by Russia’s RTS index with a positive change of 15%. The country’s bullish lookout has the potential to attract heavyweight investors.

After plummeting to the lowest level in five years in August, Pakistan’s KSE-100 Index has risen to the highest in seven months as the government is making efforts to breathe life into the economy with a $6 billion loan from the International Monetary Fund (IMF) after a deficit blowout.

Around $64 million of the country’s stocks have been bought by foreign investors this year, set for the first annual inflow since 2014. The purchases are expected togrow in February after the Financial Action Task Force (FATF) reviews Pakistan’s performance.

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