PSX in recovery mode after early-session shock
ISLAMABAD: The Pakistan Stock Exchange (PSX) made mid-session recovery after early plunge following record-breaking loss on Wall Street. The KSE-100 index lost over 800 points within first 15 minutes of the trading on Tuesday following suit of markets across the globe. However, the market gradually recovered from the early shock, with the benchmark KSE-100 index creeping back.
Around 1pm, the index stood at 43,844 points, recovering almost 346 points from the early decline, with over 150 million shares worth Rs5.5 billion traded. Earlier on Monday, the Dow suffered its worst points fall in history, wiping out all its 2018 gains, while the S&P 500 also took a beating to sit down for the year.
As a result, Tokyo today led a collapse throughout the region, diving more than five per cent, with Hong Kong down more than four per cent and Sydney sinking three per cent. Other assets were also hammered, with a slump in oil prices scything energy firms, while higher yielding currencies have also been facing a decline.