JSE pushes higher despite Trump risk spike
Banks and Naspers pull the JSE higher, while US President Donald Trump’s comments on China and Mexico spoil the good mood on global markets
The JSE was higher on Tuesday morning, with a firmer rand helping to support banks and retailers, even as investors parsed conflicting global risk signals. Comments from US President Donald Trump that he expected to levy additional tariffs on China has soured the mood on global markets, with investors waiting for a meeting between Trump and his Chinese counterpart, Xi Jinping, at a Group of 20 (G20) summit later this week. The week had started off slightly positively, with markets welcoming a draft Brexit deal at the weekend and signs the Italian government was willing to climb down on its demands to increase its budget deficit. Markets were also digesting comments from Trump that the US-China trade agreement was at risk, should that country not acceded to US demands on dealing with migrants, said Oanda analyst Stephen Innes. “Timing is everything when it comes to President Trump, and while his tariff comments are probably a case of holding cards close to his chest while keeping the...
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