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PSX loses 2,000 points during intraday trade as bearish momentum persists

The Pakistan Stock Exchange’s (PSX) benchmark index continued to witness bearish momentum on Monday as the market plunged by over 2,000 points during intraday trade. The KSE-100 index declined by 2,507.77 points or 1.51 per cent to stand at 163,088.30 at 1:04pm points from the previous close of 165,596.07 points. Most Asian indices were lower in morning trade on Monday, extending slides in global markets, as the impasse in the Middle East drove oil prices more than two per cent higher. Investor sentiment has remained depressed amid a lack of tangible progress in the US-Iran negotiations, while concerns over the fragile situation in the Strait of Hormuz fuelled fears of further disruption to global oil supplies. Tokyo shares lost 1.0pc and Hong Kong was down 1.4pc, while Shanghai was flat. Sydney, Bangkok, Taipei, Singapore and Wellington also fell, with Jakarta tumbling 2.7pc. Last week , heightened geopolitical tensions and persistent economic un...
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Trump's geopolitical brinkmanship has hit a wall with Iran

During his first year back in office, United States President Donald Trump’s blustery negotiating style won him concessions from countries on issues ranging from tariffs to armed conflict. But with Iran, that same brand of coercive diplomacy, marked by public threats, insults and ultimatums, seems to have hit a wall and may be undermining his own efforts to end a war that has shaken the global economy. With the two sides deadlocked, Trump has signalled growing frustration over the 11-week-old crisis but has shown little inclination to soften his harsh diplomatic approach toward Iran’s leaders. That does not bode well for a quick negotiated settlement, fueling fears that the current standoff — and its unprecedented shock to world energy supplies — could drag on indefinitely with periodic bouts of brinkmanship. Among the ‌main obstacles, analysts say, is the Iranian rulers’ mindset, including their need to save face with their own domestic audience, despite US-Israeli strikes having ...
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Rapprochement, debates, dissidents: US presidential visits to China

US President Donald Trump’s summit with China’s leader Xi Jinping in Beijing this week was the latest in decades of high-level diplomatic encounters between the two countries marked by drama, tension and surprising breakthroughs. Here are some of the most notable visits by US presidents to China: Cold War summit The US cut ties with China when the Communist Party (CCP) took over the country in 1949. Over two decades later, in February 1972, then-US president Richard Nixon flew to China to break the ice. Nixon met with Chairman Mao Zedong as well as premier Zhou Enlai, with whom he famously raised glasses of the fiery Chinese spirit baijiu. At a banquet in the Great Hall of the People, Nixon declared “there is no reason for us to be enemies”. A secret visit by national security adviser Henry Kissinger the year before laid the groundwork for the presidential trip, alongside reciprocal visits of table tennis teams termed “ping-pong diplomacy”. Nixon’s visit kicked off formal conta...
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Pak-US ties have strengthened during Trump's tenure, Naqvi says in meeting with American official

Interior Minister Mohsin Naqvi on Friday said that Pak-US ties had strengthened during United States President Donald Trump’s tenure. He made the remarks during a meeting with US Assistant Secretary of State for South and Central Asian Affairs Paul Kapur, the interior ministry said in a post on the social media platform X. The meeting was also attended by US Chargé d’Affaires Natalie Baker, Minister of State for Interior Tallal Chaudhry, and other officials. “During the meeting, discussions took place on Pakistan-US relations and the latest situation in the Middle East,” the ministry said. It added that views were also exchanged on increasing cooperation in the fields of security, counter-terrorism, and combating narcotics. “Pakistan-US relations have strengthened during Trump’s tenure,” the ministry quoted Naqvi as saying. “Pak-US relations are based on mutual trust and bilateral cooperation,” Naqvi said, adding foolproof security ha...
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