The equity market of Pakistan continues to make big impact in the region by beating China and India by a massive margin despite continuous upsurge in US interest rates.
According to a recent Forbes report, the global X MSCI +% Pakistan ETF was increased 16%. Subsequently, Pakistan’s equity market managed to outshine India’s and China’s comparable ETF’s which witnessed negative territory for the year.
Performance of Index/Fund for the last 12 months is as follow:
Global X MSCI Pakistan (NYSE:PAK) 16%
IShares China (NYSE:FXI) -1.5%
iShares S&P India 50 (NASDAQ:INDY) -3.24%
iShares MSCI Emerging Markets (NYSE:EEM) 1.10%
The Forbes report further added Index/Fund performance for the 12 months:
Global X MSCI Pakistan (NYSE:PAK) 20%
IShares China 9.80%
iShares S&P India 50 12.77%
iShares MSCI Emerging Markets 5.38%
As far as Pakistan in concerned, it is a frontier market economy. On the other hand, China and India are emerging market economies. The statement indicates that the economy of Pakistan is not being tested in global economy. However, China’s and India’s economy are more exposed to world economy. Therefore, Pakistan equity market is less vulnerable to the fluctuations of interest rates in developed countries, especially in the US.