Business
PSX starts trading week with a negative note, falls by 1,500 points+
– Pakistan Stock Exchange (PSX) opened new business week on a negative note amid rising tensions in the Middle East.
During early trading, the KSE-100 index shed 1,522.46 points to drop to 174,280.32 points, reflecting a negative change of 0.87 percent compared to previous week 175,802.78 points.
Meanwhile, Asian share markets slipped on Monday as the escalating conflict in the Gulf lifted oil prices and fanned fears of inflation, while a packed week of major tech earnings will further test investor faith in the AI trade.
Brent crude climbed above $90 a barrel for the first time in more than a month as the U.S. military started a ninth straight day of attacks against Iran, which in turn struck targets across the region. Just a handful of ships transited the Strait of Hormuz on Sunday and one was reported to be on fire.
Brent duly added 2.6% to $90.40 a barrel, while U.S. crude rose 2.3% to $84.39.