JSE recovers a little amid US-China trade hopes
US President Donald Trump lifted tariffs on Chinese imports as expected on Friday, but some optimism remains that a deal will be reached soon
Trade conflict between the US and China overshadowed the trickling in of SA's national election results on Friday, with the local bourse tracking global markets to recover from Thursday's sharp losses. On Friday, US President Donald Trump lifted import tariffs on Chinese goods, as threatened, but investors were clinging to hopes that a deal would still be reached soon as negotiations continue on Friday, said London Capital Group analyst Jasper Lawler. The threat of the increase in tariffs had put pressure on global equities on Thursday, with the JSE then falling 2.67%, to a six-week low. Local focus remains on the elections, with results from the national polls due sometime at the weekend. The rand was holding steady amid the expectations that the results would be market neutral to mildly positive, Rand Merchant Bank analyst Mpho Tsebe said. At 10am the rand was 0.56% firmer at R14.2261/$, helping to lift local banks, with that index up 3.91%. The all share had gained 1.55% to 57,3...
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