PSX sees bloodbath as KSE-100 plunges over 3,000 points in global market rout
Pakistan's benchmark KSE-100 Index shed more than 3,000 points on Monday amid broad-based selling pressure, as investors weighed economic uncertainty and profit-taking in heavyweight stocks.
The index was trading at 115,719.18 points, down 3,072.48 or 2.59%, during early trading hours. It had opened at 118,791.66 and swung between a high of 117,601.62 and a low of 115,397.00.
Market turnover stood at 89.76 million shares, with a total value of Rs8.22 billion, reflecting cautious investor sentiment.
Traders attributed the decline to concerns over macroeconomic indicators, fading optimism on policy clarity, and a lack of fresh triggers.
The market remained under pressure following a strong rally in recent weeks, as some participants booked profits amid a wait-and-see approach ahead of potential developments on the IMF programme and budget expectations.
Meanwhile, Asian markets nosedived on Monday as the escalating tariff war between the United States and China rattled investor confidence and triggered sharp declines across the region.
Japan's Nikkei index fell over 8% after the open, while the Topix slumped more than 6.5%. In China, the Shanghai Composite dropped 6.7%, and the blue-chip CSI300 shed 7.5%. The Hang Seng in Hong Kong opened more than 9% lower, led by steep losses in tech giants Alibaba and Tencent.
South Korea's Kospi lost over 4.8%, briefly halting trading due to a circuit breaker. Taiwan's Taiex tumbled 9.7%, with heavyweights TSMC and Foxconn both falling around 10% and also triggering market-wide halts.
Markets in Australia and New Zealand were also hit, with the ASX 200 falling as much as 6.3% and the NZX 50 ending down 3.7%.
The sell-off followed a fierce retaliation from China, which imposed sweeping 34% tariffs on all US goods. This move came in response to US President Donald Trump's sudden hike in trade duties, sparking fears of a prolonged and damaging economic conflict.
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