The JSE opened firmer on Tuesday as Naspers rebounded and banks and financials gained on the stronger rand. Naspers closed 5.89% lower on Monday, but was up on Tuesday as the market interpreted the fall as temporary and based on profit-taking as Naspers has run hard since the beginning of the year. Its Chinese Tencent investment, of which it owns 34%, was up 0.50% in Hong Kong trade. The Nasdaq recovered from intraday lows on Monday. "However, traders seemed reluctant to take big positions ahead of the US Federal Reserve federal open market committee meeting on Wednesday," analysts at Nedbank Corporate and Investment Banking said. The market has priced in a 80% possibility of a rate increase of 25 basis points. The Dow closed 0.17% softer at 21,235.67 points on Monday. Asian markets were mixed on Tuesday morning with the Nikkei 225 down 0.05% and the Hang Seng up 0.41%. Brent crude was 0.64% higher at $48.49 a barrel as Qatar indicated it remained committed to oil cartel Opec’s prod...
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