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Monday, 3 October 2016

Shanghai Exchange poised to take Pakistan bourse stake — FT.com

Shanghai Exchange poised to take Pakistan bourse stake — FT.com:

"The Shanghai Stock Exchange is in pole position to buy a stake in Pakistan’s bourse, in a move that would mark the Chinese exchange’s first overseas investment and bolster financial ties with one of China’s closest partners.

China’s strategic links with Pakistan have intensified under President Xi Jinping, whose One Belt, One Road policy seeks to project Chinese influence abroad while alleviating crippling domestic industrial overcapacity. But China’s ambitious plans for investments in Pakistan, particularly in its troubled Baluchistan region, remain vulnerable to political instability and ethnic tensions in its southern neighbour.

Yasin Lakhani, a former chairman of the Karachi bourse who now serves on its board, said the Shanghai Stock Exchange was among three shortlisted candidates for the investment. The Securities and Exchange Commission of Pakistan [SECP] has set a November deadline for the investment."



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