MARKET WRAP: JSE falls amid global concerns
The JSE fell on Wednesday, pulled down by industrials as fears around a US-China trade war and slower global growth mount
The JSE fell on Wednesday, amid fears of an escalation of the US-China trade war, which has dealt a blow to investor sentiment the world over. The trade war has put a damper on global markets as concerns over slowing global economic growth rise. The all share fell 0.3% to 53,915.2 points and the top 40 0.44%, while platinum miners added 3.39%, the gold index 0.67%, general retailers 0.41% and banks 0.27%. Industrials fell 0.9%. Lower global growth forecasts from the International Monetary Fund (IMF) and a fresh set of weak economic data from China earlier in the week continue to weigh on investor sentiment. Reports that US officials had cancelled trade talks with China scheduled for later this week, added to the uncertainty. “Overnight there have been rumours doing the rounds that the US-China trade talks have stalled and might have been canceled, which places us back in the tariff-war sphere,” TreasuryONE senior dealer Andre Botha said. Naspers was in the red, falling 3.18% to R3,0...
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