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PAK - Corporate Earnings To Hit Global X MSCI Pakistan ETF
Global X MSCI Pakistan
Global X MSCI Pakistan ETF (PAK), an ETF that tracks the performance of the MSCI All Pakistan 25/50 Index through full replication, has declined sharply in the past two years. We foresee some further pressures ahead for the ETF as Pakistan’s federal budget announced June 11 has several provisions that may keep corporate earnings subdued. Furthermore, the threat of further interest rate hike remains, albeit at a lower level.
Budgetary Measures to Negatively Affect Corporate Earnings
We expect the market to come under further pressure in the next one year as the Federal