Karachi: The Pakistan Stock Exchange came under pressure on Thursday, as rising uncertainty over peace efforts in the Middle East dampened investor confidence. Concerns intensified after Iran’s position signaled that a quick de-escalation may be unlikely.
The benchmark KSE-100 Index fluctuated during the session, reaching a high of 157,591.23 down 722.21 points (0.47%) and falling as low as 156,251.57, a drop of 2,061.87 points (1.3%) from the previous close of 158,313.44.
Global energy markets offered limited support. Oil prices remained relatively stable, with Brent crude hovering just above $100 per barrel and WTI near $90. However, fears persisted due to disruptions around the Strait of Hormuz, a critical passage responsible for roughly 20% of global oil and gas shipments.
Across Asia, stock markets showed mixed performance following a recent rally. Indices in Tokyo, Hong Kong, Shanghai, Seoul, Manila, and Jakarta declined, while Singapore, Wellington, and Taipei posted gains, and Sydney remained largely unchanged.
Earlier in the week, markets had rallied after Donald Trump softened his stance, stepping back from threats against Iran’s energy infrastructure and indicating ongoing peace talks. The United States proposed a 15-point framework to end the conflict, while Iran reportedly outlined five conditions for halting hostilities.
Despite this, tensions remained high. Trump warned of severe consequences if Iran failed to reach an agreement, even as he acknowledged ongoing discussions. Meanwhile, Iran’s Foreign Minister Abbas Araghchi stated that Tehran had no intention of negotiating.
In the previous trading session, the KSE-100 Index had surged by 4,347.08 points (2.82%) to close at 158,313.44, recovering from 153,966.36, with intraday movement between 155,199.71 and 158,586.09.
