Positive signals are emerging in the global economy after US President Donald Trump announced that the war against Iran is nearing its end, leading to improvements in energy and stock markets worldwide.
In an interview yesterday, the US president stated that the conflict with Iran has entered its final stage. He said that Iran’s naval, air, and military capabilities have been largely weakened and that the war is almost complete.
Following the announcement, global crude oil prices saw a sharp decline, falling by nearly 8 percent. The price of Brent crude also dropped by around 8 percent to about 90 dollars per barrel.
The drop in energy prices has also boosted investor confidence, resulting in a positive trend across global stock markets.
At the Pakistan Stock Exchange, trading opened with strong gains as the 100 index surged by 9728 points to reach 156209 points during early trading.
Meanwhile, the KSE 30 index rose by 6.7 percent, triggering a temporary suspension of trading for 45 minutes under market regulations. At that time, the 100 index was trading at 155783 points after gaining 9303 points.
Asian markets also showed strong performance, with the Hong Kong Stock Exchange rising by 1.2 percent, South Korea’s market gaining 6.2 percent, and Japan’s stock exchange increasing by 3.2 percent.
