Pursuits
Pakistan Stocks Post Record Jump on Profits Ahead of Vote
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Pakistani stocks are extending their biggest-ever rally as the fastest earnings growth in Asia and prospects for a successful transfer of power between civilian governments help fuel demand from international investors.
The KSE 100 Index has surged 18 percent this year, as higher commodity prices and consumer spending boosted earnings from Lucky Cement Ltd. to Pakistan Petroleum Ltd. Record profit has lured $190 million of stock purchases from overseas investors since Dec. 31, the most since the same period in 2010, data compiled by Bloomberg show. Earnings of companies in the benchmark gauge rose 43 percent in the past 12 months, the largest increase among 17 Asian equity indexes, the data show.