Pakistan Stock Exchange(PSX) Becomes Asia’s Best Market
Pakistan Stock Exchange becomes Asia’s best market And fourth best-performing market in the world. CEO Pakistan Stock Exchange Farrukh H Khan told the press “Pakistan has better copped with Covid-19; Its economy is rebounding much more strongly than other countries”.
A global research firm marketcurrentswealthnet.com based in New York published its report on Tuesday. Titled; “Denmark and Pakistan: The Surprising Stock Markets That outperformed in 2020″. According to the report ” “Pakistan’s stock market has become the best performer in Asia and the fourth-best-performing stock market in the world”.
The report further adds, “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”. Local economists are describing this development as a good indicator after the global economic crisis caused by Covid-19.
Research firms across the globe publish these kinds of reports to help investors. Investors keep a keen eye on these types of reports. If a stock market is labeled as the best performing, Investors tend to invest more in that country.
The report is also a sigh of relief for the Pakistan Tehreek-e-Insaf(PTI) Government. During Covid-19, everyone was worried about the state of the economy in Pakistan. But timely and effective decisions by the govt have saved Pakistan from going into deep waters. This report is a sign that the economy is going in the right direction.
Last time, In 2016, Pakistan Stock Exchange was named as the best performing stock market in Asia. Still, experts are saying that this time around, the achievement is even bigger because the circumstances were far more worse in 2020 than 2016 and even the countries with strong economy are struggling to cope with the devastating effects of Covid-19.
Currently, Pakistan is facing many challenges on numerous fronts and this report is a ray of hope.