Pakistan shares soar to all-time high after MSCI upgrade

Pakistan's benchmark index jumped as much as 3 percent in early trade on Wednesday, climbing to a record high after the country's stock market was reclassified overnight and included in the MSCI's emerging market index category. By 10.55 a.m. local time (0555 GMT), the benchmark 100-share index of the Pakistan Stock Exchange was up 865.68 points, or 2.3 percent, at 38,383.43 points. "Pakistan's market multiple is lower than the emerging market multiple so there will most likely be a re-rating of