The JSE closed weaker on Tuesday, with Naspers dragging the market lower amid risk-off sentiment over North Korea and political events at the weekend. North Korea’s threats to shoot at US military aircraft had subdued markets, with the local bourse playing catch-up after Monday’s public holiday. German elections at the weekend resulted in Chancellor Angela Merkel securing a fourth term, as expected. The Social Democrats indicated they would not form a government with the ruling party, leaving tricky coalition negotiations between Merkel and smaller parties. This added to uncertainty in the markets, analysts said. Local risk was high this week, with issues around the budget and August’s monthly trade data out on Friday, said Rand Merchant Bank analyst John Cairns. Some concerns were raised about the state of the fiscus, after reports emerged that the government was seeking R100bn from the Public Investment Corporation to fund embattled state-owned enterprises. However, the Treasury d...
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