The JSE was firmer at midday on Wednesday, despite US equities closing weaker after US President Donald Trump’s address to congress. The local market had closed lower for three consecutive days in the build-up to Trump’s address. The speech disappointed, lacking information on how his administration would stimulate economic growth. Rand Merchant Bank analyst Isaah Mhlanga said Trump’s speech offered little detail on fiscal spending, tax reform and healthcare. Mhlanga said while the speech was "tamed and a little more presidential", the timeframe between the announcement and implementation of any policy changes would take longer. TreasuryOne currency dealer Andre Botha said the expected weakening of the dollar on a disappointing speech and some hawkish comments by members of the US Federal Reserve, led to a 60% expectation of a rate increase in March. The Dow Jones Industrial Index closed 0.12% lower at 20‚812.24 points. Asian markets were mixed in the morning with the Nikkei 225 hav...
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