KSE-100 Tumbles Over 3,500 Points as Trump Speech Dents Hopes for Quick End to Iran War

Lead

The Pakistan Stock Exchange's benchmark KSE-100 index lost more than 3,500 points on Thursday, erasing early-week gains as investors concluded that US President Donald Trump's prime-time address on Iran had lowered the odds of a quick de-escalation. The index closed at 152,011.26, down 3,500.30 points or 2.25 percent from the previous close of 155,511.56, according to a report by Dawn.

During intraday trading, the index dropped as much as 4,073.85 points (2.62%) to 151,505.26 around 12:15pm, before paring losses into the close. The market opened at an intraday low of 150,022.43 at 9:34am, then recovered to an intraday high of 152,052.19 an hour later.

The sell-off came after Mr. Trump, in a 19-minute prime-time White House address, reiterated that US forces would continue to strike Iran for another two to three weeks, dispelling investor hopes of an imminent ceasefire.

Coverage Comparison

Both accounts from Dawn—Pakistan's leading English-language daily—agree on the core events: the KSE-100's decline, the catalyst from the presidential address, and the spillover into global oil and equity markets. The earlier version of Dawn's reporting emphasized the intraday drop of over 4,000 points, while a later update added the closing figures and commentary from local brokerage house Topline Securities. The first report focused on the immediate market reaction, while the second added context from analysts and note that the market had been in bullish momentum for two days prior.

The two reports also offered different degrees of detail on global indices. Both cited the impact on Seoul, Tokyo, and other major markets, but the later version included more specifics such as trading volume and turnover. The only notable variation is that one said the index sank by "over 4,000 points" in intraday trade, while the other reported the closing decline of 3,500 points or 2.25 percent—consistent with the intraday low being deeper than the close.

The reports both attributed the decline to President Trump's remarks, quoting Stephen Innes of SPI Asset Management, who assessed that the president "spoke of objectives met, but not of resolution. Of continued strikes, not withdrawal. Of optional escalation, not closure." This view was echoed by other market participants across the region.

Key Claims

The following claims appear in the reporting, all sourced to Dawn unless otherwise indicated.

The KSE-100 index fell as much as 4,073.85 points (2.62%) to 151,505.26 at 12:15, before closing down 3,500.30 points (2.25%) at 152,011.26 (per Dawn).

Trump's press conference "dampened investor hopes of a quick end to the war on Iran" and is cited as a major factor in the selling.

Global oil prices spiked after the address: Brent crude rose by almost 7% to $108.15 per barrel, while West Texas Intermediate climbed more than 6% to as high as $106.75 (per Dawn).

Global equity markets moved lower, with Seoul's index down more than 4% after a 8% gain the prior day; other markets included Tokyo, Hong Kong, Shanghai, Mumbai, Singapore, Taipei, Bangkok, Jakarta, and London, Paris, and Frankfurt.

Trump reiterated that US forces would continue to strike Iran for another two to three weeks (as per the report).

Topline Securities said that the local bourse remained under pressure, "turning negative momentum in global markets," and that "on going geopolitical tensions, coupled with a surge in oil prices," kept market participants on the back foot (as per Dawn's quote).

Perspectives

Market participants adopted a risk-off stance, with Topline Securities reporting "clear risk-off sentiment" and "selling pressure across the board." The decline was across all sectors, and the market saw a moderate trading volume of 352 million shares with turnover of Rs 19.5 billion.

Analyst commentary from SPI's Stephen Innes expressed that the speech indicated "continuing on to war" and that "unfinished business is oxygen for volatility," implying that without clear resolution, markets would remain nervous.

Geopolitical context—the war on Iran continued, and the US administration focused on continued strike, not a ceasefire. The in investor sentiment, which had upbeat on two prior sessions, quickly reversed, reflecting a broader global reassessment of the conflict's duration.

In closing, Dawn's report notes that the decline was part of a global market reaction to the same speech, with oil prices rising and equities falling across multiple regions. The article does not attribute causal factors beyond those stated, and the numbers reflect official market settle levels as reported by the exchange.

Note: All figures are as reported by Dawn; the market's closing level of 152,011.26 is confirmed in the later report.