The Pakistan Stock Exchange plunged on the second last session of the week following its Asian counterparts, with the benchmark KSE 100 Index drops by over 1,000 points intraday. Stock markets across Asia traded lower following rising concerns over possible trade deal between US and China. Investors’ trading confidence dived over fresh row between Washington and Beijing over S bills on Hong Kong. In Asia, Hong Kong’s Hang Seng traded1.57% lower as shares of index heavyweight Chinese tech behemoth Tencent falling 1.85%.Seoul’s Kospi further shed1.35% as shares of industry heavyweight Samsung and SK Hynix continue to fall over two per cent each. Following the downward trend Tokyo’s Nikkei 2-2-5 closed at 0.48% lower with shares of Tokyo Electron falling 3.44%.China’s Shanghai Composite shed a fraction as uncertainty over trade deal stretches led market to close at 0.25% lower. The KSE 100 Index opened the day at 38,046.34 but soon dropped over 1,000 points to record its intraday low at 37,033.45. The index settled lower by 936.37 points at 37,101.31. The KMI 30 Index lost 1,717.45 points to end at 59,973.06, while the KSE All Share Index closed lower by 526.36 points at 26,370.44. Out of the total traded shares, 66 advanced, 272 declined while the value of 214 remained unchanged. Irfan Saeed, senior vice president at BMA Capital, said market plunged primarily on two reasons. He Said since the market was over-bough hence this correction was already due, secondly major selling in today’s trading session was directed from mutual funds amid redemptions called from some heavyweight funds. The overall trading volumes declined by 29pc to 232.57 million. K-Electric Limited (KEL -3.61pc), Pak Elektron Limited (PAEL -4.76pc) and TRG Pakistan Limited (TRG -5.00pc) led the volume chart. The scripts had exchanged 12.13 million, 10.32 million and 9.51 million shares, respectively. The cement sector witnessed a decline of 3.89pc in its cumulative market capitalization. D G Khan Cement Company Limited touched its lower lock, while Lucky Cement Limited, Bestway Cement Limited and Maple Leaf Cement Factory Limited also bled. Sectors that dragged the index down included banking by 207.51 points, fertiliser 113.84 points and oil and gas exploration 99.87 points. Hub Power Company Limited dented the index by 68.87 points followed by Engro Corporation Limited 58.72 points and Lucky Cement Limited 53.33 points. Meanwhile, National Electric Power Regulatory Authority on Thursday notified Rs1.83 per unit increase in electricity tariff under monthly fuel price adjustment for electricity consumed in September. The decision to approve the tariff increase was taken at a public hearing on November 5 presided over by the regulator’s member Punjab Saifullah Chattha and attended by member Balochistan Rehmatullah Baloch. The additional fuel cost will be charged to consumers in December. The increase is not applicable to K-Electric and lifeline consumers using less than 50 units of other distribution companies.