KARACHI – Pakistan Stock Exchange (PSX) advanced its winning momentum as KSE-100 Index jumped to an all-time high, fueled by soaring optimism over the government’s bold moves to crush crippling circular debt.
The benchmark index stormed to an intra-day record of 159,537.60 points before settling at a jaw-dropping 159,280.09, a staggering gain of 1,043.42 points or 0.66% in just one session.
In a game-changing development for the power sector, the federal government sealed a mammoth Rs1.225Tn financing deal with consortium of 18 banks. All eyes are on Washington, where Prime Minister Shehbaz Sharif is set to meet US President Donald Trump at the White House today.
The rally follows Wednesday’s climb, when the PSX shrugged off volatility to close at 158,236.68, up 291.65 points or 0.18%.
Meanwhile, MSCI’s Asia-Pacific index outside Japan slipped 0.2%, but still flaunted a massive 5.5% gain for the month and 9% for the quarter. Japan’s Nikkei inched up 0.1%, capping a spectacular 7% monthly and 13% quarterly surge. Chinese blue chips stayed flat, while Hong Kong’s Hang Seng shed 0.2%.
