08/09/2008
|
JP Morgan raises eyebrows over KSE index freezing
|
|
Monitoring Desk
KARACHI: JP Morgan has shown serious concerns over freezing of Karachi Stock Exchange (KSE)'s benchmark 100-Index.In a letter issued to KSE management on Sunday, JP Morgan raised worries over the exercise of freezing index, which was done by the authorities to avoid further slump at the Exchange, and said that this step has further hampered the depleted investors' confidence.
KSE authorities are urged to defreeze the 100-index to restore back the confidence of local as well as foreign investors.
KSE authorities, in a step to save the benchmark index from further trimming had frozen the index at 9,144 points, while a meeting of KSE general body will be mulling whether to defreeze the index or leave it unchanged.
|
|