PSX recovers strongly with over 2,500-point gain
Business
Pakistan Stock Exchange rebounds, KSE-100 rises 2,500+ points to 158,604 amid Middle East tensions, while Asian markets recover and oil and gold trade higher.
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) on Thursday recorded significant gains amid ongoing trading activity, reflecting a recovery despite ongoing war in the Middle East.
During intraday trading, the KSE-100 index climbed by more than 2,500 points to reach 158,604.
This comes after the previous trading session ended with a decline of 1,354 points, leaving the 100-Index at 155,777.
Meanwhile, Asian shares rallied on Thursday and U.S. Treasuries declined, pointing to a tentative recovery in risk appetite that has been hammered by the escalating war in the Middle East.
South Korea's KOSPI gauge recovered its steep losses in the prior session following a rebound on Wall Street. The dollar resumed its advance, while oil and gold traded higher.
Chinese shares climbed as party elites in Beijing unveiled their wide-ranging economic and development targets. The U.S. Senate backed President Donald Trump's military campaign against Iran, suggesting no quick resolution to a war that has roiled financial markets, transportation networks, and energy production.
