Shafaqna Pakistan: The Pakistan Stock Exchange (PSX) extended its bullish momentum on Wednesday, supported by rising investor confidence after remarks from US President Donald Trump indicating progress toward a possible peace agreement with Iran aimed at easing the Middle East conflict.
In early trading, the KSE-100 index surged by 2,774.43 points to reach 167,516.90, marking a gain of 1.68% from the previous close of 164,742.47.
In global markets, stocks also advanced while oil prices fell and the US dollar weakened in Asian trading, after Trump said there had been “great progress” toward a “final agreement” with Tehran. He also announced a temporary pause in a naval operation escorting ships through the Strait of Hormuz, a key oil transit route responsible for about one-fifth of global oil flows, which has faced disruptions since late February amid tensions involving Iran.
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.
Source: Dunya News
