JSE loses out on global risk-off sentiment with miners leading the decliners
Analysts warn that markets should not underestimate the effect happenings in Turkey and Argentina could have on general emerging-market sentiment
The JSE closed weaker on Wednesday as investors sought safe-haven investments following renewed concern about a trade war between China and the US and as the Turkish lira continued to retreat.Global bond yields fell and the yen gained, as investors steered clear of risky assets. European markets followed in the footsteps of softer Asian markets, while the Dow was 0.40% lower at the JSE’s close.Global mining stocks were lower led by platinums on a lower metal price, as oil prices also lost momentum.Brent crude dropped 1.4% to $78.36 a barrel amid reports that oil cartel Opec may ease supply curbs in June, with oil-and-gas companies leading declines in Europe and Asia.Analysts and investors also said they were closely watching developments on global trade, pointing to uncertainty over an agreement with China over telecom giant ZTE, Dow Jones Newswires reported.Industrial stocks on Wall Street, which rallied earlier in the week on news the US would suspend efforts to apply tariffs on $...
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