PSX sustains bullish momentum, gains 583 points

KARACHI: Pakistan Stock Exchange (PSX) noted a bullish trend on Thursday as the KSE-100 index gained 583 points to close at 38,706, ARY News reported.

A total of 212,942,350 shares were traded whereas the value of shares traded during the day stood at Rs 9.97 billion.

Total 374 companies’ transacted shares in the Stock Market, out of which 292 recorded gain and 66 sustained losses whereas the share price of 16 companies remained unchanged.

Meanwhile, Southeast Asian markets fell on Thursday as investors feared the U.S. government’s decision to sign a bill backing protesters in Hong Kong could thwart Beijing and Washington from defusing their 16-month trade dispute.

Mass protests for more democracy and autonomy have rocked the former British colony for six months, with escalating violence and fears that China will ratchet up its response to end the unrest.

China’s Foreign Ministry said it will take “firm countermeasures” if the United States continues to interfere in Hong Kong after Trump on Wednesday signed into law congressional legislation backing pro-democracy protesters in Hong Kong.