PSX rebounds, 100-index leaps 550 points

The Pakistan Stock Exchange (PSX) opened positive on the second trading day of the week with the benchmark index surging again above 171,000 level.

The 100-index climbed almost 550 points, trading at 171,150 points in early business hours against the previous day’s close of 170,600 points.

The stock market had a bearish trend a day earlier with 3,362.62 points loss, a negative change of 1.93 percent closing at 170,600.20 points against 173,962.82 points on the past trading day according to PSX statistics.

Meanwhile, the rupee gained against the US dollar, which extended losses in the interbank market.

The dollar declined by 2 paisas to Rs278.45, according to the Exchange Companies Association.

Asian equities steadied in choppy trade on Tuesday as investors shrugged aside uncertainties about the sustainability of a Middle East peace to return to favorite AI plays.

MSCI’s broadest index of Asia-Pacific equities outside Japan (.MIAPJ0000PUS) was up 0.4% after seesawing between gains and losses at the start of trading.

Regional falls were led by Korean shares (.KS11) falling as much as 3.3% following an initially higher open, while gains for equities in China and Hong Kong steadied the regional benchmark. S&P 500 e-mini futures slipped 0.3% as Japan’s Nikkei 225 (.N225) tumbled 0.7%.