The JSE opened weaker on Wednesday as Naspers retreated on a weak performance from Tencent in Asian trade, while the rand remained above R14 to the dollar despite a further recovery in the Turkish lira.The all share slipped below 57,000 points as the market eyed movements in the rand. On Tuesday, the local currency failed to break through R14/$ due to a resurgent dollar.The rand was at R14.20 to the dollar in early morning trade on Wednesday, with the euro at $1.134. The Turkish lira firmed to just above six to the dollar from 7.20 in the currency’s rout earlier in the week."I am a tad confused by the overnight moves in the rand, especially given the steady trade in the lira after its recent gains," said Umkhulu trader Adam Phillips.He said it would certainly help the rand if the euro could bounce back above $1.14. "That must be main reason for present weakness," he said.Asian markets were weaker on Wednesday, pulled down by disappointing quarterly results from Tencent in Hong Kong ...
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