Positive US-China trade news lifts JSE
Signs of compromise between the two largest economies have boosted global equities, with local banks faring best amid broad-based gains
Clear signs of compromise between the US and China in their ongoing trade dispute lifted the JSE on Wednesday morning, with the local bourse extending gains from its recovery on Tuesday. China's top trade negotiator has reportedly told US officials that China will reduce vehicle tariffs and resume soyabean purchases, raising hopes that issues can be settled ahead of a March 1 deadline. Asian and European markets pushed higher, with the JSE following suit, led by Naspers and banks. At 10am the all share was up 0.51% at 51,449.9 points and the top 40 0.58%. Banks rose 1.38% and industrials 0.74%. The JSE had also performed well on Tuesday, lifted by positive manufacturing and mining data, as well as the resumption of US-China trade talks. It was, however, little moved by Wednesday's data, although consumer inflation rose a little higher than expected. Consumer inflation, as measured by the annual change in the consumer price index (CPI), rose 5.2% in November, slightly more than the T...
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