KARACHI (Dunya News) – Pakistan Stock Exchange opened on a positive note on Thursday, with the benchmark index gaining significant ground during early trading.
During the early trading, the KSE-100 index moved up by more than 800 points to climb to 175,237 points as investors showed renewed confidence.
The upward movement came a day after the market closed lower, with the KSE-100 losing 1,703 points in the previous trading session to settle at 174,429 points.
Market activity remained focused on recovery as traders responded to the latest movement following the previous decline.
Meanwhile, Asian stocks rose on Thursday after U.S. technology firms outlined significant capital spending plans that are likely to benefit chipmakers in the region, while the escalating war in the Middle East pushed oil prices to six-week highs.
Earnings from Alphabet (GOOGL.O) and Tesla (TSLA.O showed no slowdown in the vast spending on AI infrastructure, with the search giant raising its capital expenditure plans for the year.
A lot of the spending is expected to boost Asian chipmakers. South Korea's KOSPI (.KS11) surged more than 3%, led by SK Hynix (000660.KS) and Samsung Electronics (005930.KS). Japan's Nikkei (.N225) was up 0.7%.