The Pakistan stock market organized a strong recovery on Tuesday while the Benchmark KSE-100 index jumped 1609.39 points, or 1.4%, reaching 116,518.87 during intra-day trading.
The market rebounded from the net Monday fall, with intrajournnal heights reaching 116,692.29 and stockings affecting 115,706.47. The volume amounted to more than 110.7 million shares, while the value of the negotiated shares crossed 12 billion rupees.
Monday, the KSE-100 had closed at 114,909.48 following a steep drop of 3,882 points, triggered by world economic concerns after new prices were introduced by US President Donald Trump.
The KSE-100 index faced a bloodbath on Monday, the Pakistan Stock Exchange (PSX) reflecting the escalation of global trade tensions and fears of a global recession.
While US President Donald Trump refused to retreat from his pricing plans, China’s reprisal moves have sparked fears of a larger trade war, plunging markets into the world.
Asian stock markets have dive, European stocks collapsed at 16 months, and oil prices have sank while investors feared that the rights announced by Trump last week could lead to higher prices, lower demand and potentially trigger a global recession.
Goldman Sachs, alongside other major investment banks, increased the chances of a 45% American recession in the next 12 months.
JP Morgan economists estimated that prices could push the US economy into a 0.3% contraction, against their previous growth of 1.3% GDP growth.
Speaking about the question, Trump commented: “I don’t want nothing to drop. But sometimes you have to take medication to repair something.”
World leaders reacted to the news with perplexity, with China, the world economy n ° 2, referring to prices as “economic intimidation”.
