The JSE closed lower on Friday as the weaker rand failed to lift the overall market amid cautious global trade ahead of an expected interest-rate hike next week in the US.Naspers led the losers, by volume, with the market heavyweight closing lower for the first time in seven sessions. Banks and retailers lost ground after the rand reached a six-month low to the dollar.Platinum stocks fell despite a higher metal price, amid warnings that local operations could shed up to 600,000oz of production in 2018. The platinum price had climbed 0.7% to $904.25 an ounce by the JSE’s close.The market has priced in a 25 basis-point increase in the US, but a more hawkish stance from the US Federal Reserve amid heightened tension between President Donald Trump and European leaders at the Group of Seven summit could trigger risk-off sentiment.Trade tension, brought about by Trump’s tariff increases, have placed a further damper on market sentiment, with the Fed set to make its announcement on Wednesd...
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