Pakistan Stock Exchange PSX seems to be back on track with a 548 points increment after a bearish trend last week.
Today morning the 100-index witnessed a boost of 548 points and the index was trading at 39,844 points. The stock exchange lost around 2265 points during the last week.
According to stock market experts, the stock exchange was facing a downturn due to the Coronavirus outbreak, investors are cautious over their investments and pulling out investments due to uncertainty ahead because of the epidemic.
Pakistan has witnessed and confirmed the 5th Coronavirus case yesterday which has a great impact on trading activities and overall confidence of the stock market.
Not only in Pakistan, but the stock markets around the world are also facing almost similar issues, the global shares, and oil prices were affected due to the Coronavirus outbreak, however, it rebounds on Tuesday.
Financial Chiefs of G7 are going to have a meeting in order to chalk out a plan for the Coronavirus outbreak today at 5:00 pm PKT, ahead of the meeting the global financial markets are gaining momentum to respond positively.
However, Tokyo stock remained losing and closed lower on Tuesday because investors are not confident about the measures G7 financial heads going to take against the spread of Coronavirus. The Topix index fell by 20.75 points and the benchmark Nikkei 225 index also fell by 261.35 points ahead of the G7 meeting.