- A Chinese-led consortium gets 40% stakes in the PSX
Pakistan Stock Exchange (PSX 100 Index) has been ranked fifth best performing stock market in the world in the year 2016 by Bloomberg.
With PSX 100 Index gaining 43.05%, Pakistan remained the 5th best performing stock market in 2016, after Brazil IBOVESPA Index (63.36%), Kazakhstan KASE Stock Ex (59.95%), S&P/BVL Peru General TRPEN (59.15%) and Russian RTS Index $ (50.03%), according to the World Equity Indices table posted by Bloomberg on its website.
The Bloomberg in its report titled ‘Here Are the Best and Worst Performing Assets of 2016’, analysed the performance of different countries and regions in 2016 in terms of currencies, equities, commodities and bonds.
The PSX has gained a lot of momentum in the outgoing year. The Exchange has also offered 40 per cent of its shares to a Chinese-led consortium, which is made up of the China Financial Futures Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, Pak China Investment Company Ltd and Habib Bank Ltd, according to an online statement by Shanghai Stock Exchange on Friday.
The three Chinese exchanges will have 30 per cent of the PSX. The investment will help promote economic and financial cooperation between the two countries, it added.