Global financial markets responded positively after US President Donald Trump announced a temporary halt to operations related to the Strait of Hormuz and indicated progress toward a possible deal with Iran, leading to improved investor confidence across major markets.
Major Asian stock markets recorded significant gains, with South Korea’s KOSPI Index surging by 7.85 percent, while China’s Shanghai Composite Index closed 1.27 percent higher, reflecting strong positive momentum across the region.
Meanwhile, stock markets in Hong Kong and India also witnessed positive trading trends, as investors welcomed signs of a possible reduction in global tensions.
Pakistan’s stock market also experienced a strong rally, with the KSE-100 Index gaining 3,066 points to close at 167,808, reflecting an increase of 1.86 percent and indicating growing investor confidence in the market.
On the other hand, global crude oil prices recorded a decline, with Brent crude falling to 108 dollars per barrel while WTI crude reached 100.6 dollars per barrel.
Analysts believe the decline in oil prices is mainly due to easing concerns regarding global tensions and oil supply disruptions, which has created expectations of greater stability in international markets.
