US-China trade optimism lifts JSE
Asian and European markets have welcomed clear signals that the White House wants a trade deal with Beijing soon
The JSE tracked a strong performance by Asian markets on Wednesday morning, as investors welcomed further signs the US and China made progress in their trade talks. Naspers led the gains, gaining 1.75% to R2,885.01 by 9.30am on Wednesday. The all share was up 1.07% to 52,723.8 points and the top 40 1.16%. Industrials had firmed 1.27%, gold miners 2.54% and resources 1.13%. Reports continue to emerge that mid-level talks between the US and China are bearing fruit, although analysts cautioned further high-level meetings would be required to seal any compromise on major issues.
Fears that US President Donald Trump would declare a state of emergency as a government shutdown continues also failed to materialise on Tuesday, something further adding to positive sentiment. A meeting with the opposition Democrats over federal funding has instead been scheduled for Thursday. “Slowly but surely, the numerous headwinds that contributed to the market sell-off in the final quarter of 2018 a...
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