PSX witnesses sharp rise amid US-Iran peace deal hopes

Pakistan Stock Exchange witnessed buying momentum with the benchmark KSE-100 Index surging over 7000 points on Wednesday as investors cheered hopes of easing tensions in the Gulf and improvement in supply flows through the Strait of Hormuz, reported 24News HD TV Channel.
At 3 pm, the benchmark KSE-100 Index gained 7287.40 points to hit as high as 172,039.87 for 4.23%. 

Earlier on Tuesday, trading at the Pakistan Stock Exchange (PSX) remained highly volatile as investors reacted with caution to fresh economic data and shifting intra-day sentiment.

Pakistan's trade deficit widened 3.82% year-on-year (YoY) to over $4 billion in April, which weighed on investor confidence.

Pakistan's trade deficit widened 3.82% year-on-year (YoY) to over $4 billion in April, which weighed on investor confidence.

Meanwhile, stocks leapt, oil prices sank and the dollar dropped in the Asian morning on Wednesday after U.S. President Donald Trump touted "great progress" towards a "final agreement" with Tehran, while momentum in AI-driven trades accelerated.

Trump said he would briefly pause an operation escorting ships through the Strait of Hormuz, which carries about a fifth of global oil and has been blockaded by Iran since late February, triggering a global energy crisis.

The news sent Brent crude tumbling 1.2% to $108.51 per barrel, while S&P 500 e-mini futures were up 0.3%.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) jumped 2.3% to a fresh record, led by a 5.1% surge in South Korea's Kospi (.KS11), clearing the 7,000 mark for the first time.