PSX: Buying coninues, KSE-100 gains over 400 points

Buying continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 400 points during the opening minutes of trading on Tuesday. At 10: 10am, the benchmark index was hovering at 171, 562. 37, up by 409. 21 points or 0. 24%. Buying was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, power generation and refineries. Index-heavy stocks, including ARL, HUBCO, MARI, OGDC, POL, HBL, MCB, MEBL and NBP, traded in the green. On Monday, the PSX witnessed a range-bound and mixed trading session, as investors balanced easing international oil prices and expectations of additional Saudi crude supplies against renewed regional geopolitical tensions. The benchmark KSE-100 Index gained 268. 58 points, or 0. 16%, to close at 171, 153. 17 points. Internationally, technology stocks powered Asian markets higher on Tuesday as lower oil prices lifted sentiment and investors ​pinned their hopes on US-Iran talks, while the dollar stood tall on bets that more hikes are needed to rein ‌in inflation. Attention is also turning to a high-stakes meeting between Donald Trump and Xi Jinping later this week, with investors watching for signs the leaders of the world’s two largest economies can prevent a further deterioration in relations. Xi arrives in Washington on Wednesday for the first time in more than a decade amid growing optimism that ​a trade truce deal between the two nations will be extended and potential cooperation over artificial intelligence. President Trump said he ⁠would be open to meeting Iranian President Masoud Pezeshkian, who is expected to be in New York this week for the UN General Assembly, ​helping lift sentiment and pushing bond yields lower. MSCI’s broadest index of Asia-Pacific shares outside Japan rose over 1% in early trading. Tech-heavy South Korean stocks jumped nearly 2% while Taiwan shares were 1. 3% higher. Japan markets are closed for a holiday. Nasdaq futures rose 0. 37% while European ​futures were 0. 3% higher. Much of the AI enthusiasm has been centred on the strong reception to the launch of Meta’s Muse AI assistant. China’s ​blue-chip stock index rose 0. 75%, while Hong Kong’s Hang Seng index gained 0. 4%. AI stocks in China and Hong Kong also surged. This is an intraday update

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