ISLAMABAD – *In a positive economic development, Pakistan Stock Exchangebecomes No 1 stock exchange of the World.*
Pakistan Stock Exchange (PSX) continued to be among the top performingexchanges in the world, after Pakistan’s stocks outshined world’s leadingstock markets during the last three months.
According to *Bloomberg*, Pakistan’s stock market surged by 30 percent(almost 10,000 points) during the last three months and thus outperformedthe leading stock markets. Ireland’s stock market rose by 20pc, followed byRussia’s RTS index with a 15pc increase. Furthermore, the Sweden OMXStockholm 30 and Germany’s DAX Index increased by 14pc, respectively in theprevious three months.
The report added that Pakistan’s KSE-100 Index has advanced to the highestlevel in seven months. The development comes as a result of measures takenby the government to stabilise the economy with a $6 billion loan from theInternational Monetary Fund (IMF) after a deficit blowout.
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Meanwhile, the bond yields have begun to fall after peaking around 14pcmid-year, allowing investors to look at riskier options.
“Banks are rethinking their strategy. They have to look at riskier assetsnow,” said Soomro, who spent about a decade as a fund manager at companiesincluding Tundra Fonder AB. “So, the stock market is a tempting bet.” Headded that with stocks trading at overbought levels, it’s probablyinevitable there’s a pause for breath.
