The JSE opened firmer on Thursday after a decision by the Turkish central bank to hike interest rates lifted the pall hanging over emerging markets somewhat. Trading was cautious on subdued company results released at the opening and ahead of the Reserve Bank interest-rate decision later in the afternoon, with rates expected to be kept on hold. Following an emergency meeting, the Turkish central bank steeply raised its lending rate from 13.5% to 16.5%, with the rand steady at firmer levels of R12.41/$ from overnight trade. The stronger rand benefited banks and retailers on the JSE, with miners marginally up. Platinum stocks continued to retreat. Asian markets were mixed following a subdued close on the Dow. The Nikkei 225 lost 1.11% and the Hang Seng gained 0.3%. Risk trade was further supported by the US Federal Reserve minutes for the May Fed meeting released on Wednesday, which was less hawkish than expected. "It showed that the central bank was in no hurry to increase the pace o...
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