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Hong Kong stocks close higher

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Stocks

Hong Kong shares closed higher on Wednesday Bargain hunters came in after a bruising sell-off at the start of the week. The Federal Reserve’s interest rate decision later in the day also drew attention. Stocks closed higher in Hong Kong on Wednesday as bargain hunters came in after a bruising sell-off at the start of … Read more

Spirit Airlines defers investor vote on Frontier bargain

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Spirit

Spirit Airlines Inc (SAVE.N) said on Wednesday it had delayed an investor vote on its deal to Frontier Group Holdings Inc until June 30. JetBlue Airways Corp (JBLU.O) improved an opponent proposal for the financial plan transporter. Spirit evaluated it needed more investor support for the arrangement. Spirit repeated on Wednesday that it had not … Read more

The Wall Street’s gains come from growth stocks, but inflation concerns

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stocks

Shares of Amazon.com were up more than 2%, giving the S&P 500 and Nasdaq their biggest boosts in the stock’s first day of trading. A solid jobs report on Friday lowered hopes of a pause in the Federal Reserve’s aggressive policy-tightening plan. U.S. stocks were for the most part higher on Monday, drove by gains … Read more

In the midst of high expansion, what would it be advisable for you to put resources into?

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Pakistan

A political emergency followed by a monetary crunch is by all accounts a repetitive topic in Pakistan. Add the worldwide international unpredictability, a product supercycle as well as twofold digit expansion rates in the blend, and things simply get all in all too confounded. With petroleum costs rising, expansion is set to proceed with its … Read more

Hong Kong shares finish lower

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Hong Kong

Hong Kong shares slipped on Thursday as a warning approximately the energy of the Chinese economy via Premier Li Keqiang overshadowed mins indicating a much less hawkish Federal Reserve. The Hang Seng Index eased 0.27 percent, or 55.07 points, to 20,116.20. The Shanghai Composite Index gained 0.50 percent, or 15.64 points, to 3,123.11, while the Shenzhen Composite … Read more

Bulls drive KSE-100 index above 43,000 mark

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KSE

The bulls took command of the inventory market on Wednesday, tossing the KSE-a hundred index up through 300 factors as Pakistan resumes talks with the International Monetary Fund (IMF). The 43,000-barrier changed into easily knocked down as buyers cherry-picked shares at attractive valuations. Bulls have been visible dominating the marketplace throughout the day because of … Read more

Tokyo shares close higher extending US gains

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Tokyo shares

Tokyo shares closed higher for a fourth instant session on Wednesday, extending rallies on Wall Street wherein traders had been endorsed with the aid of brisk retail sales statistics. The benchmark Nikkei 225 index won 0.94 percent, or 251.45 factors, to cease at 26,911.20, even as the broader Topix index climbed 0.96 percent, or 17.98 … Read more

Hong Kong stocks close lower

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Hong Kong stocks

Hong Kong stocks closed decreased on Thursday, tracking Wall Street falls on issues of inflation and US economic tightening. The Hang Seng Index dropped 2.24 percent, 444.23 points, to 19,380.34. The Shanghai Composite Index dropped 0.12 percent, or 3.71 points, to 3,054.99, while the Shenzhen Composite Index on China’s second exchange rose 0.16 percent, or … Read more

Netflix eliminates marketing staff after losing huge number of subscribers

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Netflix

Netflix eliminates marketing staff after losing a huge number of subscribers. Netflix on Thursday started a series of cost-cutting by dispensing with an undisclosed number of promoting and marketing positions, as indicated by a few groups who said they were laid off. The decreases come seven days after Netflix detailed its highest decline in over … Read more

Standard Chartered bank shares soar on bright earnings

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Standard Chartered

Shares in Asia-targeted bank Standard Chartered surged Thursday after it published upbeat first-quarter consequences on growing interest fees and as it upgraded the outlook. Underlying pre-tax earnings climbed by a higher-than-predicted 4 percent to $1.5 billion (1.4 billion euros), the London-based lender stated in an assertion. Net profit edged as much as approximately $1.1 billion … Read more

Pakistan Stock Exchange (PSX) witnessed a sharp decline

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Pakistan Stock Exchange

The Pakistan Stock Exchange (PSX) witnessed a sharp decline last week, with the 100 Index falling by more than 1,500 points. According to the details, the Pakistan Stock Exchange (PSX), 100 Index has declined by 1562 points during the last week. During September 20-24, 2021, 1.91 billion shares were traded in the stock market while … Read more

Pakistan stocks plummet; Index lost 272.63 points

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KSE-

KARACHI: Pakistan stocks plummeted and registered a third consecutive negative session, owing to the rollover week and alarming Covid scenario. Additionally, augmenting commodity prices, higher import bill, and current account deficit position created the selling pressure at the bourse, dealers said. An analyst at Arif Habib Limited said the market traded range-bound between +124 points … Read more

International Steels earns Rs7.46 billion profit

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KARACHI: The International Steels Limited (ISL) has posted a net profit of Rs7.46 billion for FY 2021, translating into the earnings per share (EPS) of Rs17.16, multiple times higher than the profit of Rs494.8 million and the EPS of Rs1.14 in FY20, a bourse filing said on Wednesday. The company declared a final cash dividend … Read more

SECP approves prospectus of Octopus Digital IPO

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KARACHI: Avanceos Limited has notified the bourse that the Securities and Exchange Commission of Pakistan (SECP) has accorded approval to Octopus Digital Limited to issue, circulate and publish the prospectus for the issuance of 27.350 million ordinary shares. The issue consists of 27.35 million ordinary shares, i.e., 20 per cent of the total post-IPO paid-up … Read more

Pakistan stocks close in red zone; down 149 points

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KSE-

KARACHI: The benchmark KSE-100 index closed in the red zone on Thursday, where profit-taking was witnessed, owing to the slow business activities due to the imposition of the lockdown, dealers said. Ahsan Mehanti at Arif Habib Corp said that the stocks closed lower on late session selling, amid concerns over the global equity selloff and uncertainty … Read more

Binance may go public in the US, according to its CEO

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binance

Binance CEO Changpeng Zhao claimed Binance U.S. was “looking at the IPO route” at an online event on Friday.

Soon, Binance U.S. may list shares on a U.S. exchange through an initial public offering.

Despite the exchange’s ongoing regulatory issues, Changpeng “CZ” Zhao, indicated that an IPO for its US-based division is in the process.

Zhao revealed the intentions while speaking at Siam Commercial Bank of Thailand’s online event REDeFiNE Tomorrow.

Zhao said the company was working with US regulators and instituting “structures” to make the IPO aspirations a reality.

“Binance U.S. is looking at the IPO route. Most regulators are familiar with a certain pattern or having headquarters, having corporate structure. But we are setting up those structures to make it easier for an IPO to happen” he said.

It’s important to understand that it is not the same as Binance, the world’s largest cryptocurrency exchange. Because Binance U.S. operates within the confines of the United States’ regulatory environment, it offers a different set of trading pairs and a lesser trading volume than its global version.

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PSX turns around, gains 135 points to close at 47,137 points

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PSX

The KSE 100-index of the Pakistan Stock Exchange (PSX) turned around on Tuesday and observed a rising trend, gaining 135.42 points, with a positive change of 0.29 percent, closing at 47,137.77 points against 47,002.35 points on the previous working day. 

A total of 580,766,245 shares were traded throughout the day compared to the trade of 655,122,525 shares the previous day while the price of shares stood at Rs17.166 billion against Rs18.861 billion the previous day.

As many as 406 companies transacted shares in the stock market, 248 of them recorded gain and 131 sustained losses while the share price of 27 companies stayed unchanged.

The three top traded companies were Silk Bank Ltd with a volume of 69,193,500 shares and price per share of Rs1.89, Hascol Petrol with a volume of 66,247,955, and price per share of Rs9.70, and WorldCall Telecom with the volume of 55,687,000 and price per share of Rs3.81.

Rafhan Maize perceived a maximum increase of Rs390 per share, closing at Rs9790 where Pak Tobacco was runner up, share prices of which increased by Rs49.22, closing at Rs1277.75.

Colgate Palm recorded an extreme decrease of Rs196.71 per share, closing at Rs2503.29 followed by Hinopak Motor, the share prices of which decreased by Rs46.17 per share, closing at Rs569.45.

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Shares rally as budget euphoria continues

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Shares rally

KARACHI: The equity market opened on a positive note and remained in the green zone after witnessing an across-the-board buying, dealers said on Thursday. “The investors’ optimism was primarily fuelled by anticipated investor-friendly upcoming budget. Also, the Kingdom of Saudi Arabia (KSA) approved a financing of SR 901 million for the financing of Mohmand Hydropower … Read more

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