After a lacklustre start on Thursday, the JSE picked up momentum in risk-on trade to end the day higher, with industrials and banks faring best.Risk assets received a boost after US President Donald Trump backtracked on previous threats to bomb Syria by tweeting on Thursday that he never said when an attack would take place. "It could be very soon or not so soon at all."The Dow was 1.3% higher at the JSE’s close after European markets rose despite their Asian counterparts ending lower.Market speculation was that the US Federal Reserve might embark on more aggressive monetary policy tightening this year, following the release of Federal open market committee (FOMC) minutes on Wednesday. With policy makers expecting inflation to rise in the coming months, the Fed may be forced to adopt a slightly more hawkish approach on rates, said FXTM analyst Lukman Otunuga.At the same time, Fed members expressed some concern about an escalating trade war between China and the US as it also affecte...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.