巴基斯坦10年期国债 (Pakistan10Y) 加自选

巴基斯坦证券交易所的基准KSE-100指数在6月份继续保持上涨势头，在投资者对该国经济和金融前景日益乐观的推动下，交易量突破121400大关，创下历史新高。政府最近批准了1万亿巴基斯坦卢比的联邦发展预算，并为即将到来的财政年度设定了4.2%的雄心勃勃的经济增长目标。此外，亚行批准了一项旨在加强财政可持续性的8亿美元计划，央行已经将利率减半至11%。2024年，KSE-100指数飙升约84%，今年迄今已上涨约4%。然而，市场在5月初遭遇了短暂但严重的挫折，当时地缘政治紧张局势在空袭和飞机被击落后急剧升级，促使印度和巴基斯坦威胁要报复，这成为两国几十年来最严重的冲突。

The Pakistan Stock Exchange’s benchmark KSE-100 Index continued its upward momentum in June, breaking new record levels by trading above the 121,400 mark, driven by growing investor optimism over the country’s economic and financial outlook. The government recently approved a PKR 1 trillion federal development budget and set an ambitious economic growth target of 4.2% for the upcoming fiscal year. In addition, the ADB sanctioned an $800 million program aimed at strengthening fiscal sustainability and the central bank has already cut the interest rate by half to 11%. In 2024, the KSE-100 Index surged by approximately 84%, and has already gained around 4% so far this year. However, the market faced a brief but sharp setback in early May, when geopolitical tensions escalated dramatically following airstrikes and the downing of aircraft, prompting both India and Pakistan to threaten retaliation in what became the most serious conflict between the two nations in decades.

KSE 100指数升至121378.00点的历史高点。在过去的4周里，卡拉奇证券交易所KSE100指数上涨了5.56%，在过去的12个月里，它上涨了62.29%。

KSE 100 increased to an all-time high of 121378.00 Index Points. Over the past 4 weeks, Karachi Stock Exchange KSE100 Index gained 5.56%, and in the last 12 months, it increased 62.29%.

2025年5月，巴基斯坦批发价格同比上涨0.36%，从4月份的近十年低点-2.2%反弹，主要原因是食品、饮料、烟草、纺织品和皮革制品（4月份为7.9%对6.3%）以及金属制品、机械和设备（2.7%对2.1%）的价格上涨更为强劲。与此同时，几个类别的通货紧缩有所缓解，包括农业、林业和渔业（-0.4%对-7.8%）、矿石和矿产、电力、天然气和水（-7.3%对-8.1%）以及其他可运输商品（-3.5%对-4.1%）。按月计算，5月份批发价格持平，4月份下降1.29%。

Wholesale prices in Pakistan rose by 0.36% year-on-year in May 2025, rebounding from a near ten-year low of -2.2% in April, mainly driven by stronger price gains in food, beverages, tobacco, textiles, and leather products (7.9% vs. 6.3% in April), as well as metal products, machinery, and equipment (2.7% vs. 2.1%). At the same time, deflation eased across several categories, including agriculture, forestry, and fishing (-0.4% vs. -7.8%), ores and minerals, electricity, gas and water (-7.3% vs. -8.1%), and other transportable goods (-3.5% vs. -4.1%). On a monthly basis, wholesale prices were flat in May, following a 1.29% decline in April.

巴基斯坦的年通货膨胀率在2025年5月升至3.5%，为五个月来的最高水平，从4月份记录的近60年低点0.3%大幅反弹。这一数字大大超过了财政部预测的1.5-2%，尽管仍远低于近年来的历史高点。这一增长是在巴基斯坦在国际货币基金组织70亿美元计划下经历脆弱复苏之际发生的，该计划导致税收增加和电价上涨。上涨压力来自食品和非酒精饮料（4月份为3.1%对-4.8%）、服装和鞋类（9.6%对9.1%）、餐馆和酒店（7.4%对6.3%）以及杂项商品和服务（15.4%对13.8%），而住房和公用事业（-2.5%对-2.6%）以及交通（-2.5%比-3.9%）的价格下跌有所缓和。按月计算，继4月份下降0.8%之后，5月份消费者价格指数下降了0.2%。这标志着自2021年1月以来首次出现连续两个月的通货紧缩。

Pakistan's annual inflation rate rose to 3.5% in May 2025, the highest in five months and a sharp rebound from the near six-decade low of 0.3% recorded in April. The figure significantly exceeded the Finance Ministry’s forecast of 1.5–2%, though it remains well below the record highs seen in recent years. The increase comes as Pakistan navigates a fragile recovery under the IMF’s $7 billion program, which has led to increased taxation and higher electricity tariffs. Upward pressure came from food and non-alcoholic beverage (3.1% vs. -4.8% in April), clothing and footwear (9.6% vs. 9.1%), restaurants and hotels (7.4% vs. 6.3%), and miscellaneous goods and services (15.4% vs. 13.8%), while price decreases moderated for both housing and utilities (-2.5% vs. -2.6%) and transport (-2.5% vs. -3.9%). On a monthly basis, consumer prices declined by 0.2% in May, following a 0.8% drop in April. It marked the first instance of two consecutive months of deflation since January 2021.