PSX: Volatility at bourse, KSE-100 gains nearly 400 points

PSX trading was choppy in the week's final session, with the KSE-100 swinging up and down before finishing in positive territory. The index opened weaker and slid from roughly 175,300 to an intraday trough of 174,515.38, then regained ground once buyers returned around midday. A late surge in purchasing carried it as high as 175,418.29, and it closed at 175,328.82, a rise of 399.14 points or 0.23%.

Business Recorder noted that Thursday had been similarly unsteady, as oil prices climbing internationally amid geopolitical conflicts kept investors on edge, although late profit-taking could not wipe out a modest gain. The benchmark still added 153.09 points, or 0.09%, to end at 174,929.69.

Overseas, Asian shares climbed ahead of key US jobs figures after Federal Reserve Governor Christopher Waller said that softer inflation readings, if confirmed, would lead him to favour leaving rates unchanged at this month's meeting. That eased pressure on the dollar and pushed the yen up 2.6% for the week to 155.7 per dollar. Futures cut the probability of a rate increase this month to 50%, down from about 63% a day earlier, while MSCI's Asia-Pacific index excluding Japan rose 1% but remained 0.4% lower for the week.