Thank you for clarifying, but you are discussing a whole different issue all together. If you go to the post number 1 and 5 on this thread, you'll see some content that I copied over from that 1200 page document that I can't post. But its pretty easy to read and know that I am not that smart to make all that statistics crap up (I HATED statistics in college and barely passed it
, granted it was an 800 level course).
The following is taken from the post number 5 of this thread. If you read below, we are talking about "Dynamic Linking" of PSX (former KSE) to the global markets. I am sure we have MANY IT guys here, so they can tell you how systems link "Dynamically". That means, you can link systems in a way that they all have access to the SAME data. So I can buy stocks and ETF's here which may belong to Pakistan. Like how I invest into Brazilian stocks or South African ETF's. For example, UBB is a ticker symbol for Unibanco, SDA - Sadia S.A., (a refrigerated and frozen protein products company that also offers processed meats as well), ARA - (Aracruz Celulose S.A. - Paper company), etc.
So let's say, the systems get dynamically connected (like the world runs today between bigger stock exchanges and PSX is added to it), and then, say there is a stock called Dawood Cement (I think there is a company with that name). So the ticker symbol may be DAC.PK or DAC.PSX (just making this part up for reference purposes). So I can be sitting in the US, the UK, in Japan or China, etc, and I can buy this. The system will translate the price into Dollars or into my local currency (however each country regulates this).
And, this is not creating "Indices" with some element of Pakistani stocks. If you didn't know it, some Pakistani ETF's are already available through FTSE and they are expensive as hell due to awesome return they offer. Morgan Stanley ALREADY offers "PAK" which was around $ 14.00 and jumped up to $ 15 not to long ago. Its an index of some Pakistani stocks. We are talking about direct linkage between systems here.
The following research organizations are screaming Pakistani stocks higher futures. I personally am a member of Zacks. One of the best industry and market / stock investment insight and research is conducted by these guys. Seeking Alpha is the next one on the list of getting overall market insight.
Global X Surprises Investors with a Pakistan ETF - April 28, 2015 - Zacks.com
Pakistan's Weight In This ETF Is Set To Soar | Seeking Alpha
The Rise Of Pakistan: Industry Approach Is King - Global X MSCI Pakistan ETF (NYSEARCAAK) | Seeking Alpha
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Below is copied content from post # 5, as you can see, we are talking about direct linking of markets. Not one or two funds.
Objective of the study
The focal objective of this study was to explore dynamic linkages between US, European,
Asian and Pakistan’s stock market which may be very useful for investors,financial
institutions and portfolio managers to utilize their capital across the border in an efficient
and smart manner.
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