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Pakistan’s stock market surged with renewed vigour as the KSE-100 Index jumped 2,185 points to close at 165,373, marking a robust 1.34% gain. The benchmark reclaimed the psychologically important 165,000 level on a closing basis for the first time in 25 days—since October 22—easing rollover week concerns and signalling a strong bullish comeback.

“The session opened on a strong footing and maintained its positive trajectory throughout the day,” said Ali Najib, Deputy Head of Trading at Arif Habib Ltd. “This rally was largely driven by optimism surrounding the IMF Board meeting scheduled for December 8, following Pakistan’s Staff-Level Agreement (SLA) with the Fund for the second review of the $7 billion EFF programme and the first review of the $1.4 billion RSF facility.”

Market sentiment was further buoyed by reports that the Reko Diq project is expected to achieve financial close within the next two weeks, securing $3.5 billion in funding for the multibillion-dollar copper and gold mining venture.

Read: PSX sees strong rebound as investor confidence boosts index by 1,496 points

This kept E&P stocks in the spotlight, with PPL and OGDC jointly contributing 303 points. FATIMA and LUCK also attracted renewed buying interest due to their mining-linked exposure, together adding 331 points to the day’s bull run.

Market activity remained moderate, with 495.7 million shares traded and total turnover amounting to Rs30.5 billion. DSL led the volume chart with 48.4 million shares.

As anticipated, the PSX crossed the 165,000 mark today. Looking ahead, the KSE-100 Index is likely to extend its bullish trend on Friday, supported by end-of-month window dressing. The index may even push above its current 160,000–170,000 consolidation zone.

Hong Kong, 27 November 2025: Former Hong Kong Insurance Authority General Counsel (Acting) Patrick Peng joins as Head of Corporate for Greater China

Global law firm Clyde & Co today announced the appointment of Patrick Peng as a Partner. He joins from the Hong Kong Insurance Authority, where he served as General Counsel (Acting). He brings a unique perspective, having guided the development of the regulatory framework as a senior official and represented financial institutions in private practice.

This strategic hire will bolster the firm’s corporate and regulatory insurance practice, strengthening its ability to provide clients with strategic counsel on navigating the region’s complex and fast-evolving regulatory landscape.

During his more than eight years with the Hong Kong Insurance Authority, Patrick was instrumental in the creation of several pioneering regulatory regimes. His work included key contributions to Hong Kong’s captive domicile, insurance-linked securities (ILS), risk-based capital (RBC), group-wide supervision (GWS), and company re-domiciliation frameworks. His deep experience with the regulatory process spans life and non-life (re)insurance, corporate governance, licensing, market conduct, and policy development.

His background is further rounded out by his prior experience as a corporate lawyer at leading US law firms, where he represented a wide range of financial institutions in mergers and acquisitions, joint ventures, insurance portfolio transfers, IPOs, and other corporate and commercial matters.

In addition to his legal practice, Patrick serves as a part-time lecturer at The Hang Seng University of Hong Kong, the Vice-President of the Guangdong-Hong Kong-Macao Greater Bay Area Actuarial and Insurance Industry Academy, and a Director of The Hong Kong Insurance Law Association, underscoring his commitment to industry development.

 

Simon McConnell, Partner, APAC Board Chair, Hong Kong, said: “Patrick is extremely well regarded in the market. His sophisticated understanding of the regulatory process, combined with his proven track record in corporate law, is a tremendous asset for our clients. His appointment underscores our commitment to providing top-tier, strategic advice that helps clients succeed in the Greater China insurance market.”

Fei Kwok, Hong Kong Managing Partner, said: “Family offices and digital asset participants will also greatly benefit from Patrick’s extensive experience. His arrival enables us to further expand the firm’s strong presence in our core sectors across Hong Kong, Beijing, and the Greater Bay Area.”

Patrick Peng said: “Having been closely involved with the regulatory process, I not only understand the principles and policy goals that shape the landscape but practice them. I look forward to working with the firm’s clients to help them navigate this complexity and build compliant, market-leading strategies. The firm’s powerful global platform is ideally positioned to help clients capitalise on the immense opportunities across Greater China.”

Growing Corporate and Regulatory Offering in Greater China

With this appointment, Clyde & Co is uniquely equipped to serve as a strategic partner for clients navigating the convergence of finance, artificial intelligence, and regulation in Greater China.

Clyde & Co’s global insurance practice of 2,400 lawyers in over 70 offices around the world handles matters across all lines of insurance business, helping the insurance market navigate risk.