KSE – 100 Index loses 163.66 points in early trade

Pakistan’s benchmark, KSE-100 Index went on to extend yesterday’s negative bearish run as it has lost more than 163.66 points during the first two hours of trading in today’s session.
The index is currently trading at 42,359.91 level.
Hub Power Company (HUBCO) and FWO Enjazat L.L.C. signed a memorandum of understanding (MoU) to explore collaboration on various business opportunities in energy, water and mining sectors.
In a bourse filing, Hub Power Company (HUBCO) informed that, “FWO Enjazat and Hubco are interested in collaborating on various business opportunities and developing business partnerships across multiple sectors in Pakistan and abroad, with special focus on energy, water recycling and desalination, infrastructure development and mining.”
Moreover, State Bank of Pakistan and People's Bank of China extend Currency Swap Agreement for three more years. Extension of Bilateral Currency Swap Arrangement signed between the Central Banks of Pakistan and China. Both central banks agreed to increase amount from CNY 10 billion to CNY 20 billion. Currency arrangement increased from PKR 165 billion to PKR 351 billion. 
Furthermore, according to the word on street SBP in its upcoming monetary policy announcement is expected to ignore its soft monetary policy and take policy-measures to address the rising list of issues on the macro level.

Posted on: 2018-05-25T10:07:00+05:00