KARACHI: The Pakistan Stock Exchange (PSX) has been declared Asia’s best-performing market, a development local economists view as a signal that the country’s otherwise contracting economy is recovering.
A New York-based global markets research firm, marketcurrentswealthnet.com, in its report published Tuesday, also declared the PSX the world’s fourth best-performing market.
“Pakistan’s stock market has become the best performer in Asia and the fourth-best-performing stock market in the world,” according to the report, titled Denmark and Pakistan: the surprising stock markets that outperformed in 2020.
“PSX benchmark KSE-100 index has given a return on investment of 38.5% in dollar terms as foreign capital has been flowing into the market after the yield on the nation’s bond fell below double digits,” it added.
Previously, the Pakistan Stock Exchange had been named as Asia’s best performer in 2016.