The JSE extended its losing streak to a third consecutive session on Tuesday, with miners and retailers under the most pressure. A firmer rand and upbeat local data failed to lift sentiment, with global markets also lower as tension over a global trade war remains in focus. Banks found support from a firmer rand, which were also on the receiving end of good news from ratings agency Moody’s, which adjusted its outlook for the sector from negative to stable. Funding and liquidity conditions will be stable, but profitability will be strained by slow business growth and higher costs, Moody’s said. The all share fell 0.95% to 56,174 points and the top 40 0.99%. The platinum index fell 2.61%, and food and drug retailers 0.52%. General retailers gained 0.74% and banks 0.16%. Naspers lost 0.93% to R3,087.99, tracking earlier losses by Hong Kong associate Tencent, of which it owns 31.2%. Tencent’s share price is under pressure amid tightening regulation of its core gaming business in China, ...
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