PSX: Late selling at bourse, KSE-100 sheds over 500 points

Business Recorder reported that selling returned to the Pakistan Stock Exchange in the final hours of Tuesday's session, pulling the KSE-100 index down by more than 500 points after an early positive start. At 3pm the index stood at 169,872.47, a fall of 553.15 points or 0.32%. Selling was seen across car makers, cement, banks, fertiliser, exploration firms and oil marketing firms.

On Monday the KSE-100 closed 339.60 points, or 0.20%, lower at 170,425.62, as sentiment stayed fragile amid Middle East tension after press reports said the US president had turned down an Iranian truce offer concerning the Strait of Hormuz. Separately, the government told the visiting IMF review team that the Gulf War and turmoil around the Strait of Hormuz had produced a first-quarter revenue shortfall and slowed economic activity. The same briefing noted that roughly 10,000 federal staff must file online declarations of movable and immovable property by October 30, 2026, under a compulsory asset disclosure system.

Abroad, crude prices and bond yields both climbed, weighing on Asian equities as traders prepared for a rate increase in Australia. Overnight, the 10-year US Treasury yield hit a 19-year peak above 5.27%, and this month's bond selloff was its worst in two years. Regional stocks in Asia largely slipped, while bonds weakened in Japan, South Korea and Australia.