KARACHI – Pakistan Stock Exchange (PSX) and global markets reacted positively after US President Donald Trump announced that the war against Iran could soon end.
Trump stated in an interview that Iran’s naval, air, and military capabilities have been largely neutralized and that the conflict is nearly complete.
Following the announcement, oil prices dropped sharply, with Brent crude falling by 8 percent to $90 per barrel. The news also boosted stock markets worldwide.
Locally, the Pakistan Stock Exchange opened on a strong note, with the KSE-100 Index surging 9,728 points to trade at 156,209.
The broader KSE-100 Index rose 6.7 percent, prompting a temporary 45-minute suspension of trading when the KSE-100 Index was up 9,303 points at 155,783.
Asian markets also experienced gains, with Hong Kong’s stock exchange up 1.2 percent, South Korea rising 6.2 percent, and Japan’s Nikkei increasing 3.2 percent in early trading.
