Shafaqna Pakistan: The Pakistan Stock Exchange (PSX) began the new trading week on a positive note, with its benchmark index gaining 484.38 points during the session.
The index stood at 180,588.99, marking a 0.27% increase from the previous close of 180,104.61. It reached an intraday high of 181,158.86 and a low of 180,393.34, while trading volume was recorded at 113,603,577 shares.
Meanwhile, Asian stock markets also edged higher on Monday, led by gains in Chinese equities ahead of the release of key economic data. Investors, however, remained cautious about oil prices following significant gains last week amid the ongoing stalemate in the Gulf conflict.
The U.S. dollar slipped towards two-month lows after a soft run of data, including an unexpected drop in retail sales, had markets giving up bets for an imminent rate hike from the Federal Reserve. A rate hike next month is now priced at 30%, down sharply from about 50% a week earlier, according to the CME Group’s FedWatch tool.
MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab rose 0.5%, while Japan’s Nikkei (.N225), opens new tab edged 0.3% higher.
Chinese blue-chips (.CSI300), opens new tab rose 0.8% and the Hang Seng index (.HSI), opens new tab gained 1.6% ahead of China’s activity data for July due later in the day.
Forecasts are centred on a slowdown in industrial output growth to 4.8%, from 5.3% previously, but investors could be bracing for an upside surprise given exports boomed on robust global AI demand last month.
Source: Dunya News
