PSX maintains positive trend as KSE-100 gains over 500 points

The latest rise follows a positive close in the previous trading session, when the KSE-100 Index increased by 120 points to settle at 168,580 points. A day earlier, the benchmark KSE-100 continued its positive momentum, gaining 120.30 points, a positive change of 0.07 percent, to close at 168,580.41 points against 168,460.11 points recorded in the previous trading session.

The ready market witnessed a trading volume of 586.861 million shares, compared to 432.015 million shares traded in the previous session, while the traded value increased to Rs 22.365 billion from Rs 20.139 billion.

On the other hand, Asian shares slid as strains in sovereign bond markets were aggravated by reports some major tech companies were seeking to raise billions in debt in direct competition for limited funding.

Oil prices jumped anew amid an increase in attacks on shipping in the Gulf and added to the pressure on Treasuries, even as a strong auction of US 10-year debt overnight helped pull yields back from 24-year peaks. The steady climb in borrowing costs put equities on the defensive and Japan's Nikkei (.

N225) skidded 1.1%, while South Korea (. KS11) slumped 2.1%. MSCI's broadest index of Asia-Pacific shares outside Japan (.

MIAPJ0000PUS) shed 1.2%. On Wall Street, S&P 500 futures and Nasdaq futures both dipped 0.1%. In Europe, EUROSTOXX 50 futures, DAX futures and FTSE futures were all flat after sliding on Wednesday.