Pakistan Commodities_July'18 Update
Distinct moves in international Crude (WTI/Brent/Arab Light +4.8/-1.4/-0.5%MoM), Coal (+2%MoM), Urea (+10%MoM) and food prices (FAO Food/Dairy Index -3.7/-6.6%MoM), underlie the Thomson Reuters Commodity Index move of -4.4%MoM. Global political developments and rising hostility over international trade have softened optimism, leading to heightened caution over global economic growth for the rest of the year. US remains the largest outlier, where recent fiscal stimuli have raised near term growth, while industrial production and GDP data from China, the EU, Brazil and India exhibit moderation. Outcome of trade disputes remain in the spotlight, with the IMF forecasting a decline of 0.1% to Global GDP (relative to baseline) and 0.5% if followed by a confidence shock. Policy initiatives, trade actions and retaliatory measures adopted by the US and China may augment fissures for the domestic market, with the new government possibly dealing with import curtailment (as part of IMF negotiations) or tariff impositions to deal with blowback at home.
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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