Seven years ago, traders at the Karachi Stock Exchange stormed out of the building and threw stones at its doors and windows amidst a dramatic market downturn. Those still around should be happier now; China just announced a massive US$ 28 billion reconstruction program in Pakistan, and this April Renaissance Capital classified the country as a “undervalued reform story”. The MSCI Pakistan ETF also begins trading today on the NYSE, which should provide a further boost to demand.
