Summary PSX surged as Trump signaled a possible Iran peace deal, boosting investor confidence; KSE-100 rose 1.68%, oil fell, dollar dropped, and Asia-Pacific stocks jumped
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) continued its upward momentum on Wednesday, buoyed by investor confidence following signals from US President Donald Trump about a potential peace deal with Iran to resolve the Middle East conflict.
During early trading, the KSE-100 index gained 2,774.43 points to climb to 167,516.90, reflecting a positive change of 1.68 percent compared to previous close of 164,742.47.
Meanwhile, sStocks leapt, oil prices sank and the dollar dropped in the Asian morning on Wednesday after U.S. President Donald Trump touted "great progress" towards a "final agreement" with Tehran, while momentum in AI-driven trades accelerated.
Trump said he would briefly pause an operation escorting ships through the Strait of Hormuz, which carries about a fifth of global oil and has been blockaded by Iran since late February, triggering a global energy crisis.
The news sent Brent crude tumbling 1.2% to $108.51 per barrel, while S&P 500 e-mini futures were up 0.3%.
MSCI's broadest index of Asia-Pacific shares outside Japan jumped 2.3% to a fresh record, led by a 5.1% surge in South Korea's Kospi (.KS11), clearing the 7,000 mark for the first time.
