The index soared to a record high in May in the run-up to the change but has since dropped 17 per cent. However, Pakistan received only a 0.1 per cent weight in the gauge rather than the expected 0.15 per cent, which led to lower than anticipated foreign inflows from June 1. “If you are a foreign investor in emerging markets you don’t care really about Pakistan if the weighting is only 0.1 per cent. You would rather focus on India, China and other big markets, or South Korea.”MSCI is due to include domestic Chinese stocks in the emerging markets index from June next year. If the court accepts the charges, it may lead to Sharif’s resignation or removal from power.

Source: Economic Times July 13, 2017 08:04 UTC