JSE slips to two-week low, in line with global markets
Oanda senior market analyst Craig Erlam says concern over the tension on the Korean peninsula has culminated in repeated stints of risk-off trading in recent weeks
The South African share market was weaker at midday on Wednesday, with the all share dipping below the 56,000-point mark for the first time in two weeks. The all share was off 0.57% to 55,826.90 points at lunchtime, mirroring the broadly weaker sentiment on global markets. "There is clear concern over the escalating tension between the US and North Korea, which has culminated in repeated stints of risk-off trading in recent weeks," Oanda senior market analyst Craig Erlam said in a note. "With the increasingly frequent tests in North Korea triggering such moves, it’s making traders a little more anxious than normal and it seems that for now, sitting on the sidelines is preferred," Erlam said. Banks and financial stocks led the declines on the JSE, although industrial stocks were also broadly weaker on the day. Mining shares were mixed, with the gold index higher, despite a relatively stable metal price. Stocks in Europe were mostly weaker at midday, following their peers in Asia, whe...
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