Where Next For Assets?

December 2004 | Market Strategy

Pakistan's Karachi Stock Exchange (KSE) index closed at an all-time high of 5,633.13 on Monday, December 6, as investors continued to favour the market amid a backdrop of robust macroeconomic fundamentals, which were reflected in a credit ratings upgrade from Standard and Poor's (S&P) last month. Overall, the KSE has been one of the best-performing bourses in Asia in recent years, having quadrupled in value since September 11, 2001, when Pakistan became a key US ally in the "war on terror". The index has now surpassed its previous record close of 5,620.66 on April 19, after which it entered

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