Outflows rise: Pakistani stockbrokers busy at work during a trading session at the Pakistan Stock Exchange (PSE) in Karachi on April 21, 2017. Foreign funds have sold a net US194mil this year, adding to outflows of US334mil in 2016. – AFP
KARACHI: As foreign funds pile into this year’s risk rally, one of the world’s newest emerging markets is missing out on the action.
Pakistan may be preparing to celebrate the imminent inclusion of its stocks in MSCI Inc’s emerging-market index this month, yet overseas money is draining away. Foreign funds have sold a net US$194mil this year, adding to outflows of US$334mil in 2016. While Karachi’s benchmark KSE100 Index has risen 2%, the MSCI Emerging Markets Index has jumped 14%.
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