KSE-100 Index sheds over 800 points as US job growth slows
The KSE-100 Index shed over 800 points during trading on Monday, reaching 167,312.97 at 9:40am, representing a fall of 842.52 points or 0.50%. This decline follows a period where the PSX experienced a setback last week, having fallen 2,609.74 points or 1.5% to close at 168,155.48 points.
Global economic indicators contributed to the market's mood, as US job growth slowed more than anticipated in September. Furthermore, the nonfarm payrolls count saw a sharp downward revision for the two preceding months.
Market sentiment suggests investors currently price in a 22% probability of a Federal Reserve rate hike occurring this month. Conversely, Asian markets showed varied performance; Japan’s Nikkei rose 2% early in the session.
Australian stocks added 0.5% during trading. MSCI’s broadest index covering Asia-Pacific shares, excluding Japan, ticked up 0.15%.























































