Arif Habib Limited’s chief executive hails PSX’s re entry into MSCI EM Index

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Arif Habib Limited’s chief executive hails PSX’s re entry into MSCI EM Index

KARACHI, June 16 (APP): The Chief Executive Officer of leading brokerage firm Arif Habib Limited at Pakistan Stock Exchange (PSX), Shahid Ali Habib, has termed the re entry of PSX in Morgan Stanly Capital International (MSCI) Emerging Markets (EM) Index a positive development for the country’s economy.

Talking to APP here on Thursday, he expressed his confidence that PSX’s inclusion in MSCI EM Index will bring large foreign investment. He said that there are $1.4 trillion of funds in MSCI EM as against $25 billion frontier markets funds.

He said that all the major macro economic indictors such as gross
domestic product, inflation rate, policy interest rate and external accounts trade deficit are positive, which is the result of positive economic policies of the present government.

Answering a question, he said that China Pakistan Economic Corridor
(CPEC) project will bring more economic stability and development in the country.

Shahid Habib said the announcement regarding re entry of PSX has led to highly bullish trend in the stock market, which continued for the second day on Thursday.

The KSE 100 Index touched record 39000 points psychological barrier and it closed at 38751.60 points after gaining 191.72 points.