Egypt, Pakistan on watch lists

NEW YORK:

Global index provider FTSE Russell said on Thursday it will add Pakistan and Egypt to watch lists for possible demotion in its equity index suites.

Both countries will be on watch lists for demotion from “secondary emerging” markets, with Pakistan looking to become a “frontier market” while Egypt could be dropped to “unclassified.”

Pakistan’s market capitalisation will be assessed at the close on December 29, FTSE said. Vietnam will remain on the list for a possible upgrade from “frontier market” to “secondary emerging,” the index provider said.

FTSE said it will update on the watch list status of Vietnam, Pakistan and Egypt as part of its equity country classification scheduled for March 2024.

Published in The Express Tribune, October 1^st, 2023.

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