The JSE closed weaker on Thursday after a comeback by platinum and general mining stocks failed to lift the overall market, amid a weak performance from Naspers.Banks fell sharply as US bond yields continue to rise, increasing the cost of debt.Naspers found little follow-up support following a sterling performance in the previous session, and after Chinese internet company Tencent rocketed in Hong Kong on an upbeat trading update.Rand hedges were generally higher on a weaker local currency, with miners rising on a higher oil price. At the JSE’s close, Brent crude was hovering at $79.97 a barrel after hitting the $80 milestone earlier.The rand was at R12.5506 at the JSE’s close from R12.4428.A flat opening on the Dow failed to ignite the local market, despite European markets edging higher for most of the session.A stronger rand tends to support local banking and financial shares, while a weaker rand boosts the bigger companies with offshore exposure. This was why local investors ben...
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