JSE suffers second worst daily loss for 2019
Global equity markets experience a second day of sharp losses as concerns mount over the state of the global economy
The JSE slipped more than 1.5% to a one-month low on Monday, extending losses to a third-consecutive session, amid mounting concerns over a faltering global economy. The fall on Monday was led by local miners, which came under pressure as Asian equity markets posted their worst one-day losses so far in 2019 . Mining shares had been responsible for the local market pushing higher last week, despite sharp losses for equity markets in the US and Europe. The JSE’s platinum index, which has pushed higher for the past 13 weeks, fell more than 4% on Monday, its worst performance since July 2018. The pressure on miners was particularly concerning, given that they had been responsible for much of the gains on the all share so far in 2019, said Sasfin Wealth deputy chair David Shapiro. There could be a few days of sell-offs of local and international equities, Shapiro said, adding said he was more concerned about the domestic equity market than international stocks. Despite caution over a slo...
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