KSE-100 stocks extend decline on MSCI concerns
Statesman Report
KARACHI: Pakistani stocks extended their losses on Tuesday with investors still jittery over a possible reclassification of the Pakistan Stock Exchange (PSX) at the Morgan Stanley Capital International (MSCI) index.
MSCI was to announce the reclassification decision of Pakistan from Emerging Markets (EM) to the Frontier Market (FM) Tuesday.
The potential reclassification is expected to be in one go on November 21 semi-annual index review. The MSCI has consulted with the market participants till August 31, 2021.