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Pakistan's top court rejects bid to oust prime minster

Nawaz Sharif narrowly avoids disqualification but faces further investigation

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Supporters of Pakistan's Prime Minister Nawaz Sharif celebrate following the Supreme Court's decision in Lahore.   © Reuters

ISLAMABAD -- Pakistani Prime Minister Nawaz Sharif narrowly avoided a legal bid to force him out of office after the country's Supreme Court ruled Thursday against his disqualification on charges related to his family's offshore wealth.

The 3-2 ruling sparked a rally in the country's financial markets, with the Karachi Stock Exchange 100 index rising 1,254.37 points, or 2.64%, to close at 48,857.85 points. News of the pro-business prime minister's survival had earlier fueled a 1,909-point rise in the index as most listed stocks were briefly suspended after intra-day gains of 5%, before profit taking in late trading.

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