Pakistan stocks drop on eve of MSCI inclusion

On its last day of trading before being upgraded to emerging market status, Pakistan experienced a frenzy of trading — and an unexpected fall in prices.

Pakistan stocks drop on eve of MSCI inclusion

Pakistan’s stock market dropped on Wednesday, defying expectations of a market rally the day before the country was due to be included in the MSCI Emerging Markets Index. The market closed down 1.67% on the day, but late selling continued in the aftermarket.

The fall came after an almost 40% rise over the last 12 months, and a 5.82% jump since the start of the year. But the poor performance of the country’s benchmark KSE...

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