The Pakistan stock market organized a strong recovery on Tuesday, as the KSE-100 reference index increased by 1609.39 points or 1.4%, to reach 116,518.87 during the negotiation of inter-business days.
The market has recovered from Monday’s sharp fall, with an intransitive high reaching 116,692.29 and low levels reaching 115,706.47. The volume amounted to more than 110.7 million shares, while the value of the trading shares crossed the 12 billion Rs.
On Monday, the KSE-100 had closed at 114,909.48 after a sharp drop in 3,882 points caused by global economic concerns after the introduction of new prices by US President Donald Trump.
The KSE-100 index faced Bloodbath Monday, with the Pakistani Stock Exchange (PSX) reflecting the escalation of global commercial tensions and fears of a global downturn.
As US President Donald Trump declined to retreat from his pricing plans, the contrasting moves from China caused fears of a wider trade war, causing market diving around the world.
The Asian share capital markets took a nose dive, the European shares crashed at 16 months low and oil prices sank as investors were concerned that the duties announced by Trump last week could lead to higher prices.
Goldman Sachs, along with other major investment banks, increased the chances of US recession to 45% in the next 12 months.
JP Morgan economists estimate that invoices can push the US economy into a 0.3% shrinkage, from their previous estimation of 1.3% of GDP.
Speaking on the subject, Trump commented: “I don’t want anything to go down, but sometimes you have to take medicine to fix something.”
World leaders reacted to the news with embarrassment, with China, the No. 2 economy in the world, referring to invoices as “financial bullying”.
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