PSX crosses 154,000 points mark, SCO conference yields results

KARACHI: As the news of positive developments, on investment MoUs and diplomatic successes keep pouring in, the Pakistan Stock Exchange (PSX) also keep edging upwards.

On Friday afternoon, the benchmark KSE-100 index topped 154,211.60 points, showing 1545.88 points growth, after opening at 152,665.72 points. Yesterday, PSX closed at yet another all-time high on Thursday as positive economic data, stability in the rupee and optimism over CPEC Phase-II kept investor sentiment upbeat.

Trading remained volatile yesterday, as profit-taking surfaced during the session, but the market held its ground on Friday and showed a slow but continued growing trend.

Also read: PSX ends at record high on upbeat economic data, CPEC progress

PM SHARIF’S VISIT TO CHINA DEEMED ‘SUCCESSFUL’

Prime Minister Shehbaz Sharif’s visit to China was productive in terms of regional engagement, according to the Foreign Office Spokesperson.

During the visit, the Prime Minister represented Pakistan at the Shanghai Cooperation Organization (SCO) summit. He spoke on the need to strengthen regional cooperation among SCO member states and reiterated Pakistan’s commitment to the organization’s vision.

On the sidelines of the summit, the PM also held bilateral meetings with various leaders, including Russian President Vladimir Putin. Matters related to mutual cooperation were discussed, and both leaders expressed satisfaction with the growing relationship between Pakistan and Russia.

FO spokesperson said that the prime minister condemned the Israeli actions in Gaza and Iran and called for an immediate ceasefire in Gaza. He also highlighted the importance of regional stability, particularly in Afghanistan.

Also read: PM Sharif credits CPEC for resolving Pakistan’s energy crisis, at B2B conference in Beijing

Economic matters were also discussed during the visit. PM Sharif spoke on trade and economic cooperation and underlined the significance of the China-Pakistan Economic Corridor (CPEC) in Pakistan’s development strategy.

The Foreign Office further noted that the establishment of diplomatic relations between Pakistan and Armenia marked an important step in Pakistan’s foreign policy.