{"id":522540,"date":"2010-04-09T11:48:00","date_gmt":"2010-04-09T15:48:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/pakistani-stocks-rally-after-wall-street-says-theyre-leaving-2010-4"},"modified":"2010-04-09T11:48:00","modified_gmt":"2010-04-09T15:48:00","slug":"pakistani-stocks-rally-after-wall-street-says-theyre-leaving","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/522540","title":{"rendered":"Pakistani Stocks Rally After Wall Street Says They&#8217;re Leaving"},"content":{"rendered":"<p>The Pakistani stock market is on a tear&#8230; yet it must to be one of the least hyped markets in the world.<\/p>\n<p>Three major Wall Street firms have progressively shuttered their local equity research businesses&#8230;<\/p>\n<p><a href=\"http:\/\/online.wsj.com\/article\/SB10001424052702304024604575173602246395606.html?mod=WSJASIA_hps_LEFTTopWhatNews\">WSJ:<\/a><\/p>\n<p style=\"padding-left: 30px;\">Citigroup&#8217;s Citibank shuttered its equity research office in Karachi, the nation&#8217;s financial capital, in March. Credit Suisse Group closed its research operations in the same city earlier this year. That follows JPMorgan Chase&#8217;s decision in late 2008 to suspend its brokerage operations, also in Karachi.<\/p>\n<p>&#8230;yet nobody has cared. <a href=\"http:\/\/www.kse.com.pk\/\">The Karachi 100 Index<\/a> has just kept rallying and seems little concerned about the lack of Wall St. noise machines promoting it:<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4bbf45fa7f8b9a7004070000-500-\/chart.png\" border=\"0\" alt=\"Chart\" width=\"500\" \/><\/p>\n<p>On a three-year chart, it looks like JP Morgan freaked-out during the crisis, and their freak-out at the end of 2008 nearly called the market bottom which came on January 23rd. The market has kept rising post the departure of Credit Suisse and Citi.<\/p>\n<p>The fact that Wall St. is leaving makes us want to believe in Pakistan&#8217;s rally, despite all the country&#8217;s problems.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4bbf49a57f8b9a8704da0300\/chart.png\" border=\"0\" alt=\"Chart\" width=\"500\" \/><\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/pakistani-stocks-rally-after-wall-street-says-theyre-leaving-2010-4#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/V4SuYZHh2xM\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Pakistani stock market is on a tear&#8230; yet it must to be one of the least hyped markets in the world. Three major Wall Street firms have progressively shuttered their local equity research businesses&#8230; WSJ: Citigroup&#8217;s Citibank shuttered its equity research office in Karachi, the nation&#8217;s financial capital, in March. Credit Suisse Group closed [&hellip;]<\/p>\n","protected":false},"author":6205,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-522540","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/522540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/6205"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=522540"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/522540\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=522540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=522540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=522540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}