KARACHI – The Pakistan Stock Exchange (PSX) witnessed a bullish trend on Thursday after US President Donald Trump paused higher tariff for 90 days for all countries except China.
At 12:26 pm, the KSE-100 index gained over 2,300 points to surge to 116,482.21 points with a positive change of 2.04%.
The stock market opened in green after it witnessed massive decline following the imposition of reciprocal tariffs by Trump, sparking a global trade war.
Experts have attributed the buying rally in stock market to the Trump’s decision of halting the imposition of tariffs.
The US president announced a 90-day pause on tariffs for all countries, except China – for which he has increased the tariffs to 125 percent.
“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the US and other countries, is no longer sustainable or acceptable,” he wrote on Truth Social.
“China wants to make a deal. They just don’t know how quite to go about it…President Xi Jinping is a proud man. They don’t know quite how to go about it, but they’ll figure it out,” he added.
More to follow…
