JSE sharply up at the opening as Dow hits new high on government deal
The JSE opened firmer on Tuesday at a record high as rand hedges rallied, led by Naspers, amid upbeat global markets. The Dow closed 0.55% up at 26,214.60 after the Senate reached a compromise deal to keep the government open through February 8. Asian markets followed suit, and received further support from news out of China news that the country was considering more tax cuts to sustain economic growth. Earlier reports stated that the Chinese commerce ministry expressed strong dissatisfaction regarding US tariffs of 30% on solar imports and washing machines. FxPro analysts said the message was that China would resolutely safeguard its own interests. "South Korea has also responded to the US trade tariffs by saying they will look to reinstate tariffs on US goods and services," FxPro said. Asian markets rallied on the news. The Nikkei 225 rose 1.29% and the Hang Seng 1.48%, led by Chinese internet company Tencent up more than 2%. Naspers gained in response, as it owns about a third of...
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