Pak's emerging market status in jeopardy over worst sell-off in a decade

Habib Bank Ltd., one of the three stocks in the MSCI's Pakistan gauge, now has a market capitalisation below $1.6 billion

Pakistan’s inclusion in the MSCI Inc.’s emerging-market indexes has come under a cloud as the nation’s stocks fall below the market-size threshold.

The South Asian nation, which got promoted from a frontier nation in June 2017, has erased about $44 billion of equity value since then. That has narrowed its weight in the MSCI Emerging Markets Index to just above 3 basis points, lower than the 8 basis points Morocco and Jordan had when they were downgraded, according to EFG-Hermes Holding.
 

That’s not all: Habib Bank Ltd., one of the three stocks in the MSCI’s Pakistan gauge, now has a market