Pakistan Stocks Gain, Dollar Bonds Extend Rally as S&P Upgrades

Pakistan’s dollar bonds and stocks rose following an upgrade by S&P Global Ratings on Thursday, with some investors expecting further gains in its assets.

The nation’s bond maturing in 2036 rose 0.5 cents on the dollar to trade at 86.141 Friday, with most other tenors also extending gains, according to data compiled by Bloomberg. Stocks opened higher, hovering near the record highs achieved in July, as the upgrade improved investor sentiment toward the nation’s markets and economy.