The JSE shook off tepid global markets and choppy trade to post its 10th consecutive session of gains on Wednesday, its longest winning streak in almost five years. The 8% gain over two trading weeks, however, has largely been due to positive news out of the US, analysts said. But storm clouds are building for the rand, which could result in pressure on those shares which have a primarily local focus. A dollar rebound, a continued slide in the Turkish lira, as well as bubbling political problems in Italy, may put the currency on the back foot, analysts say. The JSE’s recent positive performance was driven largely by good corporate earnings in the US, as well as that country’s recent trade deal with Mexico. The JSE’s gains have come in the absence of any local economic data indicating any improvement in domestic trading conditions. Global stocks have also faltered as the optimism that followed the signing of a US-Mexico trade deal on Monday fades. Attention is now turning to the poss...
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