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Article: Pakistan stocks perk up on devaluation. (Middle East stock markets)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- October 24, 1997
CopyrightCOPYRIGHT 1997 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A devaluation of the rupee has perked up the Pakistani stock market this week as it should boost the competitiveness of the country's exporters. Elsewhere, the Bahraini market is powering ahead on expectations of good bank results, and Turkey has topped recent records.
BAHRAIN. The bull-run on the Bahrain Stock Exchange has continued. The index rose almost 8 per cent in the week. The rise has been put down to high expectations of strong earnings by banks in the first nine months of the year.
EGYPT. Prices fell during the week as investors sought liquidity in preparation for a series of new public offerings. The next few weeks will see major opportunities to ...