Summary PSX saw cautious trading as KSE-100 rose 151 points to 168,665. Investors focused on Pakistan-Iran talks, while Asian stocks climbed amid US-Iran peace hopes and volatile oil prices
KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) witnessed cautious trading on Friday as investors focused on ongoing talks between Pakistan and Iran.
During intraday trading, the KSE-100 gained 151.21 points to reach 168,665.65 points in first session, reflecting a change of 0.09 percent compared to previous close of 168,514.44 points.
On the other hand, Asian stocks rose on Friday, the US dollar sat near six-week highs and oil prices were volatile as investors hoped for a breakthrough in US-Iran peace talks, although both sides remained at odds over key issues.
The worry for investors remains the near closure of the Strait of Hormuz, a critical artery for the world's energy supplies that has sent oil prices soaring and rewired the global interest rate outlook because of inflationary concerns.
US Secretary of State Marco Rubio said there had been "some good signs" in talks to end the nearly three-month-old U.S.-Israeli war on Iran, but differences remain over Tehran's uranium stockpile and control of the strait.
In stock markets, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab was 0.8% higher, set for a modest weekly rise. Japan's Nikkei (.N225) gained 2.8%, just shy of a new record high, while Taiwan stocks (.TWII), opens new tab rose 2.3%.
