Global Stimulus Hopes Lift Asia, PSX Joins Rally
The Pakistan Stock Exchange (PSX) entered Friday on a positive note, building on its recent gains as global markets benefitted from widespread monetary easing.
By 9:35am, the benchmark KSE-100 Index had gained 434.22 points, or 0.27%, to trade at 158,387.68 points.
Buying appetite was visible in banking, energy, and refinery stocks, where heavyweights including OGDC, PPL, POL, HUBCO, MCB, and MEBL pushed the index higher.
This performance followed Thursday’s strong advance, when news of a defense pact between Pakistan and Saudi Arabia lifted investor confidence and drove the index up by 1,775.65 points to close at 157,953.47.
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The local momentum coincided with an upbeat regional outlook. Asian equities edged higher, with Japan’s Nikkei reaching record levels amid expectations that the Bank of Japan would maintain its ultra-loose monetary policy.
Global investors were buoyed by recent interest rate cuts in the United States, Canada, and Norway, signaling continued support for growth.
Elsewhere, MSCI’s Asia-Pacific index outside Japan slipped slightly but remained close to a four-year high, while Hong Kong’s Hang Seng fell marginally.
Chinese blue chips rose 0.2% as traders awaited a planned phone call between President Donald Trump and President Xi Jinping.
The conversation is expected to address trade, technology restrictions, and a possible resolution on TikTok.
