Pakistan Stock Exchange has become the best Asian stock market and the fourth best-performing market across the world in 2020.
“Pakistan’s stock market the best performer in Asia and the fourth best-performing stock market in the world,” marketcurrentswealthnet.com, the New York-based global financial markets research firm, reported on Tuesday.
According to sources, The 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, the firm said in a brief under the title “Denmark and Pakistan: the surprising stock markets that outperformed in 2020”.
“With the pandemic dwindling down and the reopening of business hubs across Pakistan, the PSX has defied odds and come out stronger. The stock exchange is Asia’s best performing market, up by 30% since March 2020,” the PSX reported on its official Twitter handle last week.
The Economic Times reported that Pakistan’s KSE-100 Index is up 36% from the end of March, the best rebound among major Asian equity indexes for the period. A slowdown in the rate of new infections coupled with measures to boost an economy that shrank for the first time in seven decades prompted the Dubai-based FIM Partners in July to make Pakistan its biggest exposure after the Philippines.
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