Pakistan Stock Index Surges Most in Six Years on Support Plan: Bloomberg

By Farhan Sharif and Katherine Espina

June 24 (Bloomberg) -- Pakistan's benchmark stock index rose the most in six years after the Karachi exchange curbed the amount equities can decline, banned short selling and announced a planned fund to halt slumping prices.

The Karachi Stock Exchange 100 Index rose 8.6 percent at the close, the biggest climb since May 24, 2002. The exchange will limit share declines to 1 percent a day from 5 percent, and double the cap on increases to 10 percent. More than 30 of the measure's 100 stocks rose by the maximum, led by Oil & Gas Development Co., and 78 exceeded the earlier limit.

For more on this article, please click on the following link: Pakistan Stock Index Surges Most in Six Years on Support Plan: Bloomberg

FUND VIEW-Pakistan fund eyes growth despite violence: Reuters

By Peter Apps

LONDON, June 6 (Reuters) - Political uncertainty, occasional bomb blasts and border militant insurgency do not stop Pakistan being a good investment destination, one of the first funds to target the country says, comparing the economy to a smaller India.

The Melchior Selected Trust Pakistan Opportunities Fund, launching this month and aimed at ultimately reaching some $200 million in Pakistani equities, says the country has been poorly portrayed and its economic fundamentals remain appealing.

"We believe Pakistan has been treated unfairly by the international media," David Graham, partner of fund manager Dalton Strategic Partnership.

Pakistan's immediate political future remains uncertain after parties supporting President Pervez Musharraf were defeated in an election while Al-Qaeda this week claimed responsibility for Monday's suicide car bomb attack on the Danish Embassy in Islamabad that killed six people.

"In looking at the Pakistan market, we see many similarities with India," Graham said, noting Pakistan had been described as "India at half the price".

Along with China, India has attracted vast fund volumes from emerging investors in recent years.

For more on this article, please click on the following link: FUND VIEW-Pakistan fund eyes growth despite violence: Reuters