PSX: stocks surge, KSE-100 up nearly 400 points

The KSE-100 stood at 164,830.55 at 9:35am on Wednesday, 363.35 points or 0.22% above its previous close, Business Recorder reported. The early advance followed Tuesday’s 1,428.73-point rebound, which had taken the index to 164,467.20. Buying was visible in several industries, and HUBCO, MARI, POL, HBL, MCB and MEBL were among the large index constituents trading higher.

Pakistan also approved changes to its anti-money laundering and counter-terrorism financing framework. These include revised currency transaction reporting thresholds, adding a provision from the Pakistan Maritime Zones Act, 2023 to the Anti-Money Laundering Act, and bringing PVARA into the law’s regulatory structure. Internationally, Asian equities advanced ahead of major US technology-company earnings and a Federal Reserve rate decision; the report also noted a sharp quarterly operating-profit increase at SK Hynix.