PSX shrugs off slump, rallies by around 650 points | The Express Tribune
The Pakistan Stock Exchange (PSX) has shrugged off its downward slump on Thursday and surged by 667 points to reach 78,545 during intra-day trade. This marks a notable 0.85% rise from its previous close of 77,878 points. Ahead of the August 14 Independence Day holiday, the PSX fell over 100 points in a range-bound session on […]
Market watch : Stocks slump over changing political scenario | The Express Tribune
KARACHI: Pakistan Stock Exchange (PSX) on Thursday slid nearly 2% to around 61,000 points as the race among different political parties intensified for forming a new government, sparking worries among investors who refrained from building new positions. In the morning, the trading session commenced on a dull note as selling pressure weighed on investor sentiment […]
Stocks slump over poll result delay | The Express Tribune
KARACHI: Pakistan Stock Exchange (PSX) was rattled on Friday by the unusual delay in announcement of election results and growing political uncertainty, which led to a plunge of 1,200 points in the KSE-100 index and deterred investors from building their portfolios. Uncertainty gripped the market as initial, unofficial results of general elections trickled in, which […]
China faces worst economic slump since 1990 amid stalled recovery
A view of a street in China. — AFP/File China’s economy, as per official figures released on Wednesday, experienced one of the lowest growth rates in over three decades last year, with the country’s challenging economic condition attributed to a grave property crisis, slow consumption and global crisis. The figures align with expectations and surpass […]
Bike dealers demand price cut as sales slump | The Express Tribune
KARACHI: Sales of motorcycles have slumped 80% because of high inflation, prompting dealers to appeal to bike assemblers and auto parts’ vendors to slash prices while keeping in view the declining purchasing power of customers. “We are looking for motorcycle buyers as sales of all bikes have slid. Recently, the US dollar has fallen significantly […]
‘Rupee may slump to 350 per dollar in June’
An undated image of Rs1,000 note and Rs5 coins. — AFP/File As the rupee continues to explore new records against the US dollar, stakeholders are now concerned about the maximum that the local unit will fall before holding its ground. Warnings of a massive drop in the rupee are flaring up, with some analysts forecasting […]
Pakistan’s troubles justify slump in bond prices: JPMorgan | The Express Tribune
LONDON: Investment bank JPMorgan has called the slump in Pakistan’s bonds to just a third of their face value justified, following the country’s devastating floods and recent warnings by officials that some debt payments may need to be suspended. “Pakistan’s debt and fiscal dynamics flag rising solvency concerns,” JPMorgan’s analysts wrote in a note […]
Rupee posts fresh slump | The Express Tribune
KARACHI: Pakistani currency maintained its downturn on the fourth consecutive day, as it dropped by a notable 0.91% (or Rs1.75) to a new all-time low at Rs191.77 against the US dollar in the interbank market on Thursday. The rupee closed at Rs190.02 on the previous day (Wednesday), according to the central bank’s data. Cumulatively, in […]