Benchmark KSE-100 index dropped by 816 points

Finance minister claims the proposed mini budget will be business friendly

KSE-100 gains 1,000 points on hopes $3 billion aid will arrive soon

The stock market rose by 2.5% on Wednesday, gaining almost 1,000 points in a single day, after the uncertainty surrounding the election died down and global money managers issued a call to buy in to emerging markets. Market analysts attribute this to multiple factors. The uncertainty regarding the July 25 polls is fading away. As…

Wall Street stocks finished essentially flat Tuesday as investors tried to assess the potential fallout from President Donald Trump’s decision to pull the US out of the Iran nuclear accord. The Dow Jones Industrial Average ended the session 24,360.21, just a hair above Monday’s close. The broad-based S&P 500 slipped less than 0.1 percent to…

Oil prices slipped in Asia on Tuesday morning from three-and-a-half-year highs as investors cautiously await Donald Trump’s Iran nuclear decision later in the day. The US president announced in a tweet that he would make an announcement at 1800 GMT on whether or not to tear up the agreement with Tehran and reimpose painful sanctions…

Dubai stocks hit a 27-month low on Thursday on the back of sharp falls in the real estate market and a drop in liquidity levels. The Dubai Financial Market Index ended the day’s trading down 1.83 percent on 2,947.99 points breaching the 3,000-point psychological barrier. The Dubai bourse, the most exposed to the global markets…

TOKYO: Tokyo stocks closed flat in sluggish trading on Friday after drops on Wall Street, as investors waited for earnings reports by major companies starting next week. Snapping a five-day winning streak, the benchmark Nikkei 225 index slipped 0.13 percent or 28.94 points to 22,162.24. Over the week, it rose 1.76 percent. The broader Topix…

NEW YORK: Wall Street tumbled back into sell-off mode Thursday, with the Dow plunging more than 1,000 points as worries over interest rate hikes continued to drag the market down. The Dow Jones Industrial Average plummeted 4.2 percent to 23,860.46. The broad-based S&P 500 sank 3.8 percent to 2,581.00, while the tech-rich Nasdaq Composite Index…

TOKYO: Tokyo stocks opened higher on Thursday, after US stocks finished lower amid nagging questions about two days of wild price swings. The benchmark Nikkei index, which fell nearly five percent on Tuesday before rebounding 0.16 percent on Wednesday, edged up 0.38 percent, or 81.24 points, to 21,726.61 in early trade. The broader Topix index…

Beijing: China’s social media and video game giant Tencent overtook Facebook in market value on Tuesday as investors sent the company soaring to the top five list of the world’s biggest firms. Tencent’s shares, traded in Hong Kong, have doubled in value this year as the tech company’s earnings have repeatedly outmatched analysts’ expectations. A…

SYDNEY: Chinese shares climbed on Monday after a week-long break as a disappointing survey on the country’s service sector did little to dent optimism on global growth, while political uncertainty caused turbulence for the Turkish and British currencies, reported Reuters. Liquidity was lacking with Japan and South Korea on holiday and a partial holiday in…

LONDON: European stock markets slid again on Thursday as investors sought safe havens amid tensions between the United States and North Korea, despite an easing in rhetoric. A weaker opening on Wall Street further added to the downward pressure in Europe. “Risk aversion is once again the name of the game… as geopolitical tensions mount…

KARACHI: Pakistan Stock Exchange’s trading rose over 1900 points as the Supreme Court of Pakistan announced the verdict of the Panama Case against the members of the Sharif family, Samaa reported. Investors and businessmen welcome the court’s verdict of forming a joint investigation team to probe the allegations against the Sharif family. The PSX-100 Index was…

TOKYO: Tokyo stocks rose Monday morning with sentiment lifted by upbeat talks over the weekend between US President Donald Trump and Japanese Prime Minister Shinzo Abe. The new US leader dropped previous harsh rhetoric towards Tokyo over trade and currency issues, and reiterated America’s commitment to Japan’s security after North Korea launched a ballistic missile….

TOKYO: Japanese stocks rose sharply Friday morning, tracking record closes on Wall Street after US President Donald Trump promised details soon about a “phenomenal” tax-cut plan aimed at boosting the world’s top economy. US and European equities rallied with the dollar Thursday after Trump said at a meeting with airline executives that he would unveil…

HONG KONG: Asian traders moved uneasily Tuesday as geopolitical concerns came back to the fore following a deadly suspected attack in Berlin, while they also wind down going into the Christmas break. The euro struggled to gain any traction against the dollar while higher-risk investments were also under pressure as dealers shifted to safety. At…

SINGAPORE: Oil soared Monday following a landmark deal by Russia and other non-OPEC producers to join the cartel in capping output, in a bid to end a stubborn global glut that has hammered prices. In a bid to reverse a dramatic fall in income, Russia and 10 other non-OPEC states on Saturday said they will…

HONG KONG: Oil prices sank further in Asian trade Monday on fears a planned cut in output will not be agreed by top producers this week, while the dollar retreated against most of its peers after its recent surge. Both main crude contracts slumped around four percent on Friday owing to disagreements over how to…

HONG KONG: Asian markets retreated Thursday as weak Chinese trade data reinforced worries about the world’s number two economy, while Federal Reserve minutes fanned expectations of a US rate hike before the year’s end. However, troubled Samsung Electronics staged a slight recovery on bargain-buying after losing about 10 percent of its value this week on…

MUMBAI: Indian stock markets slumped almost two percent on Thursday after the army claimed it had conducted “surgical strikes” along the de-facto border with archrival Pakistan in Kashmir. The Bombay Stock Exchange slid 534.70 points, or 1.84 percent, to 27,770.32 in afternoon trade after India said it had carried out the strikes to thwart attacks…