The 100-Index of the Pakistan Stock Exchange (PSX) turned around to bullish trend on Wednesday, gaining 4,695.09 points more points, a positive change of 4.96 percent, closing at 99,269.25 points as compared to 94,574.16 points on the last trading day. A total of 1,057,104,968 shares were traded during the day as compared to 1,116,324,649 shares the previous trading day, whereas the price of shares stood at Rs 39.556 billion against Rs. 43.291 billion on the last trading day. As many as 453 companies transacted their shares in the stock market, 356 of them recorded gains and 52 sustained losses, whereas the share price of 45 companies remained unchanged. The three top trading companies were Bank of Punjab with 114,966,225 shares at Rs 7.85 per share, Hascol Petrol with 106,286,630 shares at Rs 12.59 per share and K-Electric Limited with 91,200,956 shares at Rs.5.15 per share. Unilever Pakistan Foods Limited witnessed a maximum increase of Rs. 348.78 per share price, closing at Rs 19,368.13, whereas the runner-up was Rafhan Maize Products Company Limited with Rs 175.25 rise in its per share price to Rs 7,988.75. Rafhan Services Limited witnessed a maximum decrease of Rs 50.29 per share closing at Rs 827.72 followed by Sapphire Textile Mills Limited with Rs 26.35 decline to close at Rs.1,151.64. Separately, Asian markets were mixed Wednesday as traders tried to gauge the economic outlook after Donald Trump picked a tough-negotiating hawk as his trade envoy the day after saying he would hit China, Canada and Mexico with hefty tariffs. The stuttering performance followed a broadly negative day on Tuesday and came despite another record-breaking lead from Wall Street. While he still has just under two months to go before taking office, Trump signalled Monday that he was ready to reopen his hardball playbook with America’s key trading partners if they do not stop illegal immigration and drug smuggling. The threat to impose the levies on his first day reignited trade war fears at a time when central bankers are fighting to bring inflation under control, with several observers warning prices could begin to spike again. Investors were also trying to ascertain the ramifications of the decision to name as trade envoy Jamieson Greer, who served as chief of staff to US Trade Representative Robert Lighthizer during the first Trump administration. “Jamieson played a key role during my First Term in imposing Tariffs on China and others to combat unfair Trade practices,” the president-elect said, noting Greer’s experience pushing through a trade deal with Mexico and Canada. National Australia Bank’s Rodrigo Catril said: “President Trump is serious about using tariffs as a form of leverage.” Monday’s announcements “were linked to drugs and illegal immigration, but we must assume there is another layer of tariffs that should be coming on countries running trade surpluses with the US”, he said. He added that Trump was aiming for a “trade decoupling” and that “the question is whether he wants a mild decoupling or a severe one. Another observation is that we should expect retaliation, implying a negative impact on global trade”. All three main indexes on Wall Street ended on a positive note, with the S&P 500 and Dow hitting record highs. Minutes from the Federal Reserve’s November policy meeting, where it cut interest rates, showed officials would take a gradual approach when considering future reductions as the job market remained solid. If data comes in about as expected, “it would likely be appropriate to move gradually toward a more neutral stance of policy over time”, the minutes said. While economists had been expecting another cut in December, bets on that have been scaled back in light of Trump’s election amid worries his pledges to cut tax and impose tariffs would lead to another spike in prices. Traders are keenly awaiting the release later Wednesday of the Fed’s preferred gauge of inflation as well as figures on jobless claims and economic growth. That comes as US markets wind down for Thursday’s Thanksgiving holiday. Oil prices edged down slightly after Israel and Hezbollah in Lebanon agreed a ceasefire that cooled geopolitical tensions in the Middle East. The commodity had fallen around three percent when news of a possible breakthrough emerged earlier this week. However, crude was getting support from the prospect of key OPEC+ nations delaying a pick-up in production that was due to begin in January. Bitcoin was sitting around $92,500, having hit a record Friday and come within a whisker of the $100,000 mark on hopes that Trump will move to ease restrictions on the crypto market.