The 100-Index of the Pakistan Stock Exchange (PSX) continued with bearish trend on Tuesday, losing 202.44 points, a negative change of 0.17 percent, closing at 116,052.68 points as compared to 116,255.13 points on the last trading day. A total of 792,770,655 shares were traded during the day as compared to 819,805,715 shares the previous trading day, whereas the price of shares stood at Rs 39.694 billion against Rs. 38.326 billion on the last trading day. As many as 453 companies transacted their shares in the stock market, 133 of them recorded gains and 275 sustained losses, whereas the share price of 45 companies remained unchanged. The three top trading companies were WorldCall Telecom with 80,583,371 shares at Rs 1.71 per share, Cnergyico PK with 76,600,722 shares at Rs.7.35 per share and K-Electric Limited with 45,707,217 shares at Rs.5.03 per share. JDW Sugar Mills Limited witnessed a maximum increase of Rs.74.79 per share price, closing at Rs 822.68, whereas the runner-up was Lucky Core Industries Limited with Rs 51.67 rise in its per share price to Rs.1,148.16. Hallmark Company Limited witnessed a maximum decrease of Rs 89.38 per share closing at Rs 857.84 followed by Nestle Pakistan Limited with Rs 75.39 decline to close at Rs.7,344.08. Most markets rose in Asia on Tuesday following another rally on Wall Street sparked by tech giants as traders try to assess Donald Trump’s tariff plans following a report he may take a more targeted approach. Eyes were also on the release of closely watched US jobs data at the end of the week after the Federal Reserve scaled back its interest rate cut expectations and took a more hawkish turn. After a tepid start to the week, Asian investors fought to recover on Tuesday after a tech-fuelled rally in the S&P and Nasdaq – with Nvidia hitting a record – as strong results from Taiwan-based chip giant Foxconn sparked a fresh rush for semiconductors. The US gains were also helped after The Washington Post said Trump’s aides were weighing plans to apply tariffs only to goods in certain critical sectors – a more narrow definition than the president-elect previously proposed. The report comes after Trump warned last year that he would slam huge levies on China, Canada and Mexico amid fears of a return to his hardball trade policy. However, he later hit back at the Post story, saying it “incorrectly states that my tariff policy will be pared back. That is wrong.” He added that it was “just another example of Fake News.” Most markets rose in early Asian business, with Tokyo up two percent helped by a weak yen, while Shanghai, Sydney, Singapore, Seoul, Taipei, Mumbai, Bangkok and Jakarta were also higher. Wellington and Manila fell. Hong Kong also retreated as tech firms took a hit with Tencent diving more than seven percent after it was named by the United States in a list of “Chinese military companies.” Its US-listed shares shed 7.8 percent. A spokesperson for Tencent said the company’s inclusion on the list “is clearly a mistake”, and that “we are not a military company or supplier.” Still, Morningstar senior equity analyst Ivan Su said: “Given Tencent’s business model -which primarily revolves around social networking and online gaming – we believe the company has a good chance to secure exclusion through US courts.” Major battery manufacturer CATL, which was also named on the list, briefly sank more than five percent in Shenzhen before paring the losses. The announcement came just weeks before Trump returns to the White House, with many commentators fearing another trade war with China. There is also growing concern that his plans to slash taxes, remove regulations, impose tariffs on imports and crack down on immigration will reignite inflation, putting pressure on the Fed to keep borrowing costs higher for longer. “While an aggressive Trump may try to deliver large fiscal stimulus, stronger demand would quickly run into a deteriorating supply side of the US economy,” said David Rees, senior emerging markets economist at Schroders. “Despite being partially absorbed by the stronger US dollar and profit margins, substantially higher tariffs would be likely to increase goods inflation. “But the greater threat to inflation probably comes from a crackdown on immigration, along with mass deportations, if it leads to labour shortages that would ultimately result in higher wages and services inflation.” Friday’s non-farm payroll report is the next big marker for investors hoping for some idea about the Fed’s plans for rates after it scaled back its forecasts for cuts in 2025 last month.