MARKET WRAP: JSE loses ground as risk-off sentiment drives retailers and banks lower
The JSE weakened on Wednesday, as risk-off sentiment from a number of global issues saw stocks in banks and retailers retreat. Miners were weaker on a stronger rand, while the property index closed higher for a second consecutive day. The Dow was 0.3% lower at the JSE’s close, following weaker Asian markets, while European markets were mixed. Asian markets fell despite the release of strong Chinese industrial growth data, of more than 7%, as exports surged in the first two months of the year. Investors have focused on a range of political and trade uncertainties this week following a cabinet shake-up in Washington on Tuesday and ongoing discussions around US import tariffs, Dow Jones Newswires said. Analysts said media reports suggesting potential tariffs aimed at China contributed to Wednesday's weak appetite for risk in Asia. In the long term, the question is whether recent moves should be considered a warning sign of a broader march toward protectionism, which tends to lead to le...
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