PSX trades cautiously as the US-Iran negotiations are the main focus.

Friday’s trading on the Pakistan Stock Exchange (PSX) was cautious as investors concentrated on the ongoing negotiations between Iran and Pakistan.

The KSE-100 changed by 0.09 percent from its previous finish of 168,514.44 points during intraday trading, gaining 151.21 points to reach 168,665.65 points in the first session.

However, despite the fact that both parties were still at odds on important issues, Asian stocks increased on Friday, the US dollar was close to six-week highs, and oil prices were erratic as investors hoped for a breakthrough in US-Iran peace talks.

The worry for investors remains the near closure of the Strait of Hormuz, a critical artery for the world’s energy supplies that has sent oil prices soaring and rewired the global interest rate outlook because of inflationary concerns.

US Secretary of State Marco Rubio said there had been “some good signs” in talks to end the nearly three-month-old U.S.-Israeli war on Iran, but differences remain over Tehran’s uranium stockpile and control of the strait.

In stock markets, MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab was 0.8% higher, set for a modest weekly rise. Japan’s Nikkei (.N225) gained 2.8%, just shy of ⁠a new record high, while Taiwan stocks (.TWII), opens new tab rose 2.3%.