JSE opens weaker on cool Chinese reaction to further US trade talks
The JSE opened weaker on Monday in renewed risk-off trade after Beijing said it was unwilling to attend further trade talks if the country was threatened by the US. "As a result, emerging markets are trading on the back foot across the board," Nedbank Corporate and Investment Banking analysts said.The Dow closed flat on Friday and Chinese markets were lower on Monday, with the Shanghai Composite losing 1.11% and the Hang Seng 1.30%.Naspers was an early casualty after Chinese internet company Tencent retreated sharply in Hong Kong trade. The expectation is for President Donald Trump’s economic conflict with China to escalate this week, as the administration plans to unveil new tariffs on $200bn in Chinese products entering the US and Beijing debates new ways to retaliate against US corporations doing business in China, Dow Jones Newswires reported.The rand hovered around R15/$ as the dollar made a slight comeback against the Turkish lira. The Turkish currency recorded gains last week...
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