18 May '17, 9pm

Morgan Stanley upgrades Pakistan to emerging market status

Morgan Stanley Capital International (MSCI) on Tuesday upgraded the Pakistan Stock Exchange (PSX) to Emerging Markets status; the inclusion will be effective from June 1, 2017. The MSCI in its Semi-Annual Index Review announced Pakistan’s entry into MSCI Emerging Markets (EM) index with Pro Forma weight of 0.10 per cent in the index (based on data as of April 20, 2017, as per MSCI announcement, dated May 15, 2017), below expectations. There are 6 stocks that are part of MSCI EM Index, including one large cap: Oil & Gas Development Company (OGDC), and five mid-caps; Habib Bank (HBL), United Bank (UBL), Lucky Cement (LUCK), MCB Bank (MCB), and Engro Corporation (ENGRO). The simulated MSCI Pakistan Investible Market Index (IMI) has a total of 33 stocks. Among 6 MSCI EM stocks, the highest weight will be of HBL (based on free-float market cap), followed by the UBL, LUCK, ENGRO...

Full article: https://defence.pk/pdf/threads/morgan-stanley-upgrades-pa...

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