KSE-100 Rebounds Over 1,100 Points Amid Diplomatic and Global Market Developments
The Pakistan Stock Exchange (PSX) witnessed a strong rebound on Thursday as the benchmark KSE-100 Index surged over 1,100 points in early trade, recouping much of the losses from the previous session. By 9:40 AM, the index stood at 121,629.44, marking a gain of 1,163.51 points or 0.97%.
The renewed investor confidence came after Wednesday’s sharp sell-off, which had dragged the index down by over 1,500 points to close at 120,465.93. Analysts attributed Thursday’s recovery to improved investor sentiment following easing concerns over political uncertainty and encouraging signals from global financial and diplomatic developments.
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While Pakistan’s equities staged a recovery, global markets remained subdued. Asian stock exchanges continued to experience downward pressure. Japan’s Nikkei fell 0.8% as a strengthening yen dented exporter earnings. Taiwan’s benchmark index slipped 0.9%, and Hong Kong’s Hang Seng Index lost 0.8%. In the U.S., S&P 500 futures were down 0.4% in early trade, though American markets remained closed for a national holiday.
In the energy sector, Brent crude prices edged down to $76.32 per barrel but stayed close to a 4.5-month high, supported by ongoing geopolitical tensions and production outlooks. The Japanese yen appreciated by 0.2% to 144.92 per dollar, while the U.S. dollar gained against major global currencies, maintaining its safe-haven appeal.
Adding to market optimism was a rare and diplomatically significant meeting between former U.S. President Donald Trump and Pakistan’s Army Chief, Field Marshal Syed Asim Munir, at the White House. The private meeting, which notably included no senior civilian officials, is being interpreted in Islamabad as a major diplomatic success, especially when contrasted with recent engagements between U.S. leadership and Indian officials.
Meanwhile, the U.S. Federal Reserve opted to hold interest rates steady on Wednesday but hinted at possible rate cuts later in the year. However, its updated economic outlook reflected inflation concerns stemming from Trump’s proposed tariff policies, signaling cautious optimism for global investors.
Market watchers in Pakistan are closely monitoring these international trends, along with domestic political and fiscal signals, as they continue to shape the PSX’s trajectory heading into the new quarter.
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