KARACHI, May 4: The Pakistan Stock Exchange (PSX) surged at the start of the week, with the benchmark KSE-100 index jumping more than 3,400 points as investors responded to improving signals around the Middle East conflict and easing concerns over shipping disruptions in the Strait of Hormuz.
The KSE-100 index climbed 3,498.32 points in early trading to reach 166,492.49, up 2.15 percent from the previous close of 162,994.17, marking one of the strongest openings in recent sessions.
Investor sentiment lifted by global developments
Market activity was driven by cautious optimism in global markets, where investors tracked signs of progress in diplomatic efforts and reduced risks to energy supply routes. U.S. President Donald Trump said Washington would begin efforts to assist ships stranded in the Strait of Hormuz, a key artery for global oil trade.
The U.S. Central Command indicated that maritime support operations could involve warships, aircraft, and thousands of personnel, though details remain limited.
Global markets steady, focus on oil and currency moves
Across Asia, equities edged higher while oil prices remained stable, reflecting a wait-and-see approach among investors assessing geopolitical risks. The Japanese yen also strengthened sharply against the dollar, drawing attention to possible intervention after recent currency volatility.
Talks under review as uncertainty remains
Iran said it is reviewing a U.S. response to its recent proposal for talks, reportedly delivered through Pakistan. However, uncertainty persists after Trump signaled the proposal may not meet U.S. expectations.
Despite a ceasefire in recent weeks, ongoing tensions continue to influence global financial markets, particularly sectors tied to energy and shipping routes.
Also read: PSX posts record surge of nearly 14,000 points as KSE-100 rallies on US-Iran ceasefire
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