The JSE weakened sharply in broad-based losses on Monday morning, as a bout of risk-aversion over US-China trade talks struck global markets  US President Donald Trump has threatened to levy additional tariffs on China, despite recent signs that the two countries were closing in on a new trade deal. The rand weakened on Sunday. In terms of equities, market heavyweight Naspers was faring worst on Monday morning, slumping 3.56% to R3,590. The Shanghai Composite earlier plunged 5.58%, while the Hang Seng had lost 3.01%. At 10am the all share was down 1.92% and the top 40 2.11%. Industrials were down 2.39% and food and drug retailers 1.9%. Gold miners had added 0.14%, benefiting from investor interest in safe-haven assets. Gold was up 0.25% to $1,282.03/oz and platinum 0.48% to $867.02. Brent crude was 1.89% down to R69.46 a barrel. Market focus is on US-China trade developments, as reports have suggested the Chinese would pull out of talks scheduled for this week. It was just as likely...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now