MARKET WRAP: JSE slightly higher with rand hedges mixed, while platinums shine
The JSE all share closed marginally higher on Tuesday following a relatively muted reaction to another round of tariffs implemented by US President Donald Trump against China.Analysts said most of the expected short-term adverse consequences have already been priced in. About $200bn of imports will be affected initially. However, China has threatened to retaliate, which might imply another round of higher tariffs from the US. This could lead to a further escalation of global trade tension, affecting worldwide GDP growth.The new tariffs, due to come into effect on September 24, will start at 10%, before being increased to 25% at the beginning of 2019."If China takes retaliatory action against our farmers or other industries, we will immediately pursue phase three, which is tariffs on approximately $267bn of additional imports," a statement from Trump warned.Rand hedges were mixed, with Naspers closing 0.83% lower at R3,179.88 and British American Tobacco down 2.37% to R699.76. Nasper...
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