And World's Top Market Is...Pakistan

With government economic reforms kicking in, the nation's tiny bourse is outperforming all others -- at least for now

Around the world, equity markets are grappling with tough times. Except in Pakistan. Despite jitters over the conflicts in Afghanistan and Iraq to the west and continuing tensions with neighboring India to the east, Pakistan's tiny stock market is scoring record gains. Indeed, Bloomberg ranks the KSE-100, the benchmark Pakistani index, as the world's top-performing stock market. Despite a correction early this year, the index is up 51.4% for the 12-month period that ended on Mar. 31. Barring some sort of political or war-related catastrophe, the market seems poised to continue its steady upswing.

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