PSX opens positive, KSE-100 Index gains over 1,150 points

Buying continued at the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 Index gaining over 1,150 points during intra-day trading on Wednesday. At 10:50am, the benchmark index was hovering at 188,067.12, up by 1,166.39 points or 0.62%. On Tuesday, buying momentum continued at the PSX as the KSE-100 Index closed the day higher by 1%. Asian stocks were on shaky ground on Wednesday, following steep losses in US and European equities on fears that advancements in artificial intelligence could supplant traditional software. Oil prices climbed after the US shot down an Iranian drone and armed boats approached a US-flagged vessel in a key waterway, while precious metals found a firmer footing after a recent rout. A selloff among US and European data analytics, professional services and software companies deepened after Anthropic’s launch of plug-ins for its Claude Cowork agent on Friday sparked worries of an AI-fuelled disruption to those industries.