PSX extends losses on oil, geopolitical risks
The Pakistan Stock Exchange's KSE-100 index fell by 353 points due to geopolitical tensions, rising oil prices, and concerns over a widening trade deficit. Investor caution was further exacerbated by rising bond yields, which have fueled speculation regarding a potential policy rate hike.
Why it matters
The decline reflects broader economic instability in Pakistan, highlighting the impact of macroeconomic pressures on emerging market equities.
--> Home Business PSX extends losses on oil, geopolitical risks KSE-100 falls 353 points; rising bond yields add to pressure
facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> A sign of the Pakistan Stock Exchange is seen on its building in Karachi, Pakistan January 11, 2016. PHOTO: REUTERS KARACHI: The Pakistan Stock Exchange's (PSX) benchmark KSE-100 index fell over 350 points to close at almost 167,090 on Friday, extending its weekly decline to 0.69% amid geopolitical uncertainty, elevated international oil prices and concerns over Pakistan's widening trade deficit.
Investor sentiment also remained cautious following rising yields in the latest Pakistan Investment Bonds (PIB) auction, which fuelled expectations of a possible policy rate hike. At the close of trading, the KSE-100 index fell 352.63 points, or 0.21%, and settled at 167,089.28.
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