Pakistan’s key stock gauge rose to a six-year high on Friday amid optimism that the strengthening currency may help ease inflationary pressures.
The KSE-100 Index rose 0.9% to 50,673.04, taking this month’s gain to almost 10% in the second-best performance among more than 90 global equity indexes tracked by Bloomberg. The gauge still trades at a one-year forward price-to-earnings ratio of 3.2, versus 8.8 for the MSCI Frontier Markets.