Pakistani, Indian Stocks Soar as Truce Shifts Focus to Growth

Stocks in Pakistan and India rallied as a ceasefire agreement between the two nuclear-armed neighbors calmed markets that had been shaken by military clashes on their border.

Pakistan’s stock benchmark KSE-30 Index closed 9.3% higher, the most since 2008, in a rally that triggered an hour-long trading halt. The NSE Nifty 50 Index rose 3.8% in Mumbai, as both nations stepped back from the brink of war, allowing market participants to turn their focus back to the economic outlook for the South Asian nations. The sentiment also got a boost from the announcement of a temporary trade deal between the US and China.