psx surges 5335
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PSX surges 5,335 points as investor confidence str…

ByJustpaste.in

Stock Exchange (PSX) recorded a strong performance during the outgoing business week, with the benchmark 100 Index gaining 5,335 points amid renewed investor confidence.

The KSE-100 Index closed the week at 181,430 points, marking a significant rise from the previous level. During the week, the index traded within a range of 4,963 points, reaching a high of 182,007 points while its lowest level stood at 177,043 points.

Trading activity also remained robust, with approximately 3.74 billion shares changing hands during the week at a total value of around Rs169 billion.

The positive momentum was further reflected in the overall market valuation. The market capitalisation of the PSX increased by Rs482 billion over the week, reaching Rs20.237 trillion.

Market sentiment remained positive as investors closely monitored developments surrounding the Iran-US conflict and signs of a possible pause in hostilities, which helped support confidence in the local equity market.

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    In a rare show of financial coordination, the United States and Japan have confirmed that they jointly intervened in currency markets last week to support the Japanese yen after it plunged to its weakest level in four decades against the US dollar. The move marks the first coordinated intervention between the two allies since 2011, when they acted together following Japan’s devastating earthquake and tsunami. The intervention comes as both governments seek to stabilize the yen and prevent further market volatility that could ripple across the global financial system. Japanese officials and US Treasury Secretary Scott Bessent made it clear that they are prepared to take additional coordinated action if needed to counter excessive fluctuations in the currency. Economists say the joint effort reflects growing concerns that a prolonged depreciation of the yen and instability in Japan’s government bond market could have wider consequences, including increased borrowing costs for the United States and heightened uncertainty in global markets. Analysts also believe that even limited interventions can discourage speculative trading by signaling that authorities are willing to act decisively. The yen has remained under pressure largely because Japan continues to maintain significantly lower interest rates than other major economies. While the Bank of Japan raised its benchmark interest rate to 1% in June—the highest level in nearly three decades—it remains well below the US Federal Reserve’s policy rate of 3.50% to 3.75%, making the dollar a more attractive choice for investors. Japan is also grappling with long-term economic challenges, including a shrinking working-age population, sluggish productivity growth and heavy dependence on imported energy priced in US dollars, all of which have contributed to the currency’s weakness. Japan’s Ministry of Finance stated that the coordinated intervention was aimed at countering excessive volatility and restoring orderly conditions in foreign exchange markets. Secretary Bessent echoed that message, saying the United States strongly supports Japan’s efforts to correct what it views as a significantly undervalued yen. President Donald Trump also defended the move, saying Japan had sought assistance in stabilizing its currency and reaffirming Washington’s commitment to supporting its longtime ally. Following the announcement, the dollar briefly weakened against the yen before regaining some ground. Market observers estimate that Japan may have spent nearly $59 billion purchasing yen in recent interventions, while reports suggest the United States may have bought between $5 billion and $10 billion worth of the Japanese currency, although US officials have not officially confirmed the amount. Financial markets are now closely watching whether further coordinated interventions will be required if pressure on the yen continues, with analysts expecting both governments to remain ready to act in order to preserve stability in global currency markets.

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    Rana Sanaullah compares AJK protesters to former m…

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    Prime Minister’s Adviser Rana Sanaullah has compared some protesters in Azad Jammu and Kashmir (AJK) to militant groups that Pakistan had trained in the past, claiming that certain elements later turned against the country. Speaking during an interview Sanaullah alleged that individuals associated with armed organisations had become involved in the ongoing unrest in AJK. He claimed that these groups possessed weapons and were attempting to exploit public gatherings to create instability rather than pursue legitimate political objectives. According to the prime minister’s adviser, the protesters do not have genuine political demands and are instead using ordinary citizens as a shield while pursuing what he described as a broader agenda. He suggested that the situation involved elements who wanted to take advantage of public sentiment and use the protests to challenge the state. Sanaullah also defended the actions of law enforcement agencies, arguing that the authorities had few alternatives in dealing with what he characterised as an armed threat. He said security forces had to respond when groups carrying weapons created a law-and-order situation and posed a threat to public safety. The adviser maintained that the government could not allow armed groups to operate freely under the cover of protests. He said law enforcement agencies would continue to take action whenever necessary to maintain order and protect citizens. His comments come at a time of heightened political and social tensions in AJK, where protests have sparked a wider debate about public grievances, governance, law enforcement, and the government’s response. The situation has also raised questions about how authorities should balance the right to peaceful protest with the need to prevent violence and maintain public order. Sanaullah’s remarks are expected to fuel further discussion about the nature of the ongoing demonstrations and the role of political and armed elements in the unrest. While the government has emphasised the need for strict action against violence and armed activity, critics have continued to call for dialogue and political engagement to address the underlying concerns of the people of AJK.

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    AJK election first phase concludes, vote counting …

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    Polling for the first phase of the Azad Jammu and Kashmir (AJK) Legislative Assembly elections concluded on Monday, with vote counting now underway across 13 constituencies in Mirpur Division. The first phase covered three districts — Mirpur, Kotli and Bhimber. Polling was initially scheduled to end at 5pm but was extended by one hour. Voting continued until 6pm to provide voters with additional time to cast their ballots. More than 1.4 million registered voters were eligible to participate in the first phase. The Election Commission had established 2,454 polling stations across the three districts. Of these, 597 polling stations were set up across four constituencies in Mirpur district. Kotli had 1,107 polling stations across six constituencies, while 608 polling stations were established in three constituencies of Bhimber. A total of 296 candidates, including nominees from the Pakistan Peoples Party (PPP), Pakistan Muslim League-Nawaz (PML-N), Istehkam-e-Pakistan Party and independent candidates, contested the 13 seats. Polling disrupted at some stations Although polling remained largely peaceful, some polling stations reported disruptions. In Kotli’s Aghaar Colony, voting continued at Polling Station 38. However, polling could not begin at Stations 36 and 37 because voters did not arrive. PPP AJK Election Cell in-charge Sardar Abdul Shakoor claimed that disturbances occurred at polling stations 119, 120 and 121 in LA-5 Barnala. He said polling was affected for some time. According to Shakoor, voting resumed after security forces reached the area. However, he said the polling process remained slow. The PPP also established a central election monitoring cell in Islamabad. Senior party leaders, including Sherry Rehman, Nadeem Afzal Chan, Shazia Marri, Sharjeel Memon and Saeed Ghani, monitored developments and remained in contact with election officials, district administrations and party candidates. Former National Assembly speaker Raja Pervez Ashraf expressed concern over alleged irregularities at different polling stations. He called for additional security personnel at sensitive locations, including Gulpur, Thurochi and Muhajir Camp. He urged the Election Commission to immediately and impartially investigate all complaints and ensure free, fair and transparent elections. Political leaders urge voters to participate PML-N candidate Chaudhry Tariq Farooq cast his vote at Polling Station 161 in Bhimber’s LA-7 constituency. Speaking after voting, Farooq said voter turnout was expected to be higher in rural areas than in cities. He also expressed confidence in the security and election arrangements in Bhimber. PPP Chairman Bilawal Bhutto Zardari, accompanied by his sister Aseefa Bhutto Zardari, appealed to voters in Mirpur to participate in the elections. In a video message, Bilawal urged people to leave their homes and exercise their right to vote if they wanted Kashmir’s future to be decided by its people. He also asked voters to support PPP candidates. PPP Karachi Division President Saeed Ghani described the election as a contest between the genuine issues of Kashmiris and what he called false promises. Ghani said Kashmiris needed political rights, ownership rights and employment opportunities. He criticised the focus on providing a limited number of buses, saying development should address wider public needs. PPP leader Nadeem Afzal Chan also raised concerns about alleged federal interference and the use of government resources during the elections. He demanded that the polls remain free, fair and transparent. He also called on the federal government to avoid any involvement that could influence the electoral process. PPP spokesperson Shazia Marri said the people of Kashmir would deliver their verdict through their votes. She said the party’s election symbol, the arrow, represented hope for the people of Mirpur. Police praise peaceful polling AJK police said the first phase of polling remained peaceful across Mirpur Division. A spokesperson for the AJK police chief said voters had rejected calls for unrest and instead chose to exercise their democratic right. Voters began arriving at polling stations soon after voting opened at 8am. AJK Inspector General of Police Liaquat Ali Malik thanked residents for cooperating with law enforcement agencies and helping maintain peace during the election. He warned that no individual, including political workers, would be allowed to take the law into their own hands. Mirpur Commissioner Raja Tahir Mumtaz and DIG Kamran Ali also visited Ward 16/17 in LA-3 to review the polling arrangements. The commissioner said polling had remained peaceful across Mirpur, Kotli and Bhimber. He urged voters to come out without fear and assured them that the administration had made arrangements for a secure environment. Security arrangements strengthened Authorities made extensive security arrangements for the elections. AJK Chief Election Commissioner Justice (retd) Ghulam Mustafa Mughal said legal action would be taken against anyone attempting to disrupt the voting process. AJK Chief Secretary Khushal Khan said state institutions were fully prepared to maintain peace during the elections. He said the people had rejected attempts to create disorder and demonstrated confidence in the democratic process.

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