The rand weakened from R11.88 to the dollar on Wednesday to R12.06 on Thursday morning following ANC president Cyril Ramaphosa’s statement indicating President Jacob Zuma’s exit would drag on for several more days. At 6.30am, the rand was trading at R14.79 to the euro from Wednesday’s R14.67, and at R16.74 to the pound from Wednesday’s R16.57. While the rand’s Ramaphosa rally stumbled, the JSE’s all share index rebounded 0.9% to 56,886 points on Wednesday. Judging from Asian markets, which generally shrugged off further losses on Wall Street on Wednesday, the JSE may continue its rebound on Thursday. Tokyo’s Nikkei 225 was up 0.86% and Sydney’s ASX 200 was up 0.22%. Mainland China’s Shanghai composite index, however, was down 1.5%. The S&P 500 fell 0.5% and the Nasdaq index 0.9% on Wednesday. US President Donald Trump — who had been strangely silent about February’s stock market crash considering he took credit for Wall Street’s bull run — finally commented in a tweet on Wednesday: ...
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