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Bullish momentum was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index crossing the 170,000 level during the opening minutes of trading on Wednesday. At 9:40am, the benchmark index was hovering at 170,171.82, an increase of 715.44 points or 0.42%. Buying interest was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including HUBCO, MARI, OGDC, POL, PPL, HBL and UBL, traded in the green. Analysts attributed the positivity to the International Monetary Fund (IMF) board clearance, which unlocks about $1.2 billion for Pakistan…

Under the licensing agreement, Yao Pharma would grant Pfizer an exclusive worldwide licence for the development, use, manufacturing and commercialisation of oral small-molecule drugs known as GLP-1 receptor agonists, including YP05002, as well as any products containing such compounds as an active ingredient, according to a statement by Fosun on Tuesday.GLP-1 therapies have become a competition focus in the global pharmaceutical market, with injectable drugs like Novo Nordisk’s Wegovy and Ozempic, and Eli Lilly’s Zepbound and Mounjaro generating billions of dollars in annual revenue.The licensed drug candidate YP05002 is undergoing Phase 1 clinical development in Australia for chronic weight management.Pfizer…

India’s largest airline is experiencing its toughest crisis in years after cancelling thousands of flights amid a severe pilot shortage – a result of its failure to hire enough staff to meet new government rules designed to combat pilot fatigue.Analysts say the turmoil at IndiGo highlights the structural challenges faced by a fast-growing aviation market currently dominated by just two carriers.About 3,000 IndiGo flights were cancelled last week, including more than 1,000 on Friday, accounting for nearly half of its typical daily operations. The airline operated 1,800 flights on Tuesday, up from 1,650 the previous day, according to its website.India’s…

A new report recommends European companies diversify away from overreliance on China and the US, as companies find themselves squeezed between Beijing’s preferential policies for local companies and Washington’s trade volatility.The European Union Chamber of Commerce in China advised companies to “eliminate single-source dependencies on both China and the United States where possible” in a report on supply chain dependencies released on Wednesday.“We are probably only seeing the very tip of the iceberg when it comes to understanding dependencies,” the chamber’s president, Jens Eskelund, said at an earlier media briefing, at which he noted European industries’ deep reliance on Chinese…

South Korea’s recent moves to lower tensions with Pyongyang – from removing its propaganda loudspeakers to downplaying the North’s human rights record – may ease frictions on the peninsula, but analysts say they are unlikely to help restart stalled denuclearisation talks between North Korea and the US.North Korean leader Kim Jong-un continues to spurn engagement with US President Donald Trump, while Washington appears to have shifted its focus away from curbing Pyongyang’s expanding nuclear arsenal, limiting Seoul’s leverage.Last Wednesday, South Korean President Lee Jae-myung expressed hope that Trump could still persuade Kim to resume dialogue, noting that Pyongyang seemed to…

Hong Kong stocks fell for the third consecutive day on Wednesday, tracking a lacklustre session on Wall Street, as investors cautiously looked for clues on the US Federal Reserve’s policy path next year.The Hang Seng Index lost 0.4 per cent to 25,344.88 as of 11.15am local time, extending Tuesday’s 1.3 per cent loss. The Hang Seng Tech Index dropped 0.5 per cent. On the mainland, the CSI 300 Index fell 0.8 per cent and the Shanghai Composite Index slipped 0.7 per cent.Pharmaceutical firm WuXi AppTec declined 1.2 per cent to HK$103.40, while online-game provider NetEase retreated 1.9 per cent to…

Hong Kong stocks fell for the third consecutive day on Wednesday, tracking a lacklustre session on Wall Street, as investors cautiously looked for clues on the US Federal Reserve’s policy path next year.The Hang Seng Index lost 0.4 per cent to 25,344.88 as of 11.15am local time, extending Tuesday’s 1.3 per cent loss. The Hang Seng Tech Index dropped 0.5 per cent. On the mainland, the CSI 300 Index fell 0.8 per cent and the Shanghai Composite Index slipped 0.7 per cent.Pharmaceutical firm WuXi AppTec declined 1.2 per cent to HK$103.40, while online-game provider NetEase retreated 1.9 per cent to…

The new business unit, Qwen Consumer Business Group, led by Alibaba vice-president Wu Jia, will oversee the Qwen chatbot app, the Quark AI assistant and cloud drive, AI hardware products, the UC Browser and the online reading platform Shuqi.The move marked a significant organisational change at Alibaba to promote the consumer use of its AI offerings after it secured a dominant position in open-source models for developers. The division’s top priority is to turn the Qwen chatbot into an accessible “super app” for use in scenarios including glasses, personal computers and cars. Alibaba owns the South China Morning Post.The change…

Investors are gearing up for a key economic policy meeting to be attended by President Xi Jinping and other top leaders, looking for signals on whether the high-stakes gathering will inject fresh momentum into a stock rally that has already run hard this year.The annual Central Economic Work Conference – a year-end fixture that sets the tone for the following year’s macroeconomic agenda – is taking centre stage, with the market in need of new catalysts to extend a solid run this year.Investors widely expect Beijing to maintain a proactive fiscal stance and accommodative monetary policy in 2026, while prioritising…

Investors are gearing up for a key economic policy meeting to be attended by President Xi Jinping and other top leaders, looking for signals on whether the high-stakes gathering will inject fresh momentum into a stock rally that has already run hard this year.The annual Central Economic Work Conference – a year-end fixture that sets the tone for the following year’s macroeconomic agenda – is taking centre stage, with the market in need of new catalysts to extend a solid run this year.Investors widely expect Beijing to maintain a proactive fiscal stance and accommodative monetary policy in 2026, while prioritising…