Pakistan Commodities: Oct'18 Commodities Review
- Global commodity markets treaded lower (TRJ index falling 2.2%MoM) with almost all major commodity classes witnessing price declines over the month.
- Lower crude oil prices (Brent/Arab Light prices down 11/7%Mom) and Coal (down 1.3%MoM) kept energy commodities soft, while Cotton and Steel benchmarks depicted similar trends where sentiments in these markets erred on the side of weakening global demand driving prices lower.
- Moreover, heightening tensions from global trade tussles, particularly between the US and China, cloud global growth outlook with noticeable declines in global consumer confidence and moderating PMI data, depressing bullish sentiment in global commodity markets.
- In this backdrop, Pakistan's domestic import bill could be headed for some much-needed relief, where our calculations show a US$5/bbl decrease in global oil prices reduces the import bill by US$1.1bn (rising quantum LNG imports are also pegged to crude), where a continuation of this trend may ease near term macro-concerns, offering a window for consolidating economic fundamentals.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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