Summary Pakistan Stock Exchange’s KSE-100 Index crossed 176,000 points after gaining over 1,300 points, while Asian markets also surged amid improved investor sentiment and global market recovery.
KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) showed a strong upward trend on Friday, with the benchmark index regaining the 176,000-point level during early trading.
On the final trading day of the business week, the KSE-100 Index gained more than 1,300 points to reach 176,920 points.
The rise came after the index closed at 175,547 points at the end of the previous trading session.
The latest gains reflected positive sentiment among investors as the market continued its upward movement during the opening hours of trading.
Meanwhile, Asian markets rallied hard with Wall Street on Friday as South Korea's battered market made a record comeback, stirring hopes that a recent rout in AI-related stocks had run out of steam.
The yen was also in the spotlight, holding some distance away from a 40-year trough after suspected coordinated intervention by various authorities in the previous session, as the Bank of Japan (BOJ) stood pat on rates on Friday.
Long-end U.S. Treasury yields held near 19-year highs while short-end yields eased, steepening the curve as doubts grow over the Federal Reserve's ability to anchor inflation expectations.
South Korea's benchmark KOSPI (.KS11) leapt 17%, reversing steep losses from earlier in the week. Japan's Nikkei (.N225) similarly advanced nearly 4% and MSCI's broadest index of Asia-Pacific shares outside Japan (.MISX00000PUS) rose 6%.
