The JSE opened slightly weaker on Tuesday on increased global jitters ahead of a probable new round of tariffs by US President Donald Trump against China, raising the prospect of a global trade war. Gold stocks slipped on a stronger dollar, but resources recovered on a slightly weaker rand and a higher Brent crude price. On Monday, US treasury secretary Steven Mnuchin attempted to allay fears amid media reports detailing plans to impose restrictions on Chinese investment in US companies and on tech exports to China. The Dow closed 1.33% lower on Monday at its worst level in more than a month. The index fell below the important 200-day moving average for the first time since June 2016, and so raised the spectre of further market losses. The Shanghai Composite slipped 0.52% on Tuesday, increasing losses from its January high to 20%. The Nikkei 225 was flat and the Hang Sang lost 0.3% in cautious trade. US Company Harley Davidson’s plans to shift some production out of the US put a dam...
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.