Saturday, June 18, 2016
Pakistan included in MSCI list of Emerging Markets
Federal Minister for Finance Mohammad Ishaq Dar Wednesday termed the inclusion of US based index provider Morgan Stanley Capital International (MSCU) in the list of emerging markets as historical and reflective of the right direction of Pakistan’s economy.
He expressed the hope that inclusion of Pakistan into emerging markets would help attract huge foreign investment in the country and its fruits would trickle down to the masses.
This was one of the items I highlighted as a positive catalyst for the Pakistan market. Because it is now deemed an emerging market various investment entities that try and mimic the index will have to purchase Pakistani stocks. The market in Pakistan is liking this news as the ETF I own moved higher on this news.