US President Donald Trump opened the capital market with strong speeds on Thursday, with rebounding from the loss of the previous session as the investor improving the spirit of the United States of the US trading partners on the crippling tariffs on the US business partners.
Rebound in response to the apprehension, the global market turmoil follows that the trade war between the United States and China will increase.
The benchmark KSE -100 index was opened on a highly positive note, 3,331.01 points, or 2.92 percent, reached 112,891.48 from 114,153.15 to 9:33 pm to reach 112,891.48.
However, soon, the shares were seen to have a sharp decline and decreased as 116,452.12 and remained down from 117,000 to 11 pm – yet trade in green.
At 11:05 am, the index scored 2,620.97 points or 2.30PC to reach 116,774.12 from yesterday.
After the sudden reversal of Trump’s tariff, the new tariff was kicked on the import of dozens of business partners after less than 24 hours. New trade barriers have inscribed markets, increased the possibilities of recession and inspired retaliatory reactions from China and the European Union.
Trump said that he would increase the tariff to 125PC on sugar imports from 104PC levels that are effective at midnight on Wednesday. Also, he said that he would reduce them in other countries, which are subject to their new targeted duties.
