MARKET WRAP: JSE has worst week in 14 months amid US-China trade jitters
By the close of trade on Friday the JSE was down 4.31% for the week, falling every day to Thursday
The trade war between China and the US has overshadowed local election news over the past few days, pushing the JSE into its worst week in more than a year.By the close of trade on Friday the JSE was down 4.31% to 56,780.8 points for the week, falling every day to Thursday, ahead of Trump’s eventual decision to increase tariffs on Chinese imports worth about $200bn up to 25%. The conflict between the two economic superpowers is bad for the rand as it has the potential to slow the global economy, hurting exports.Stock markets in the US and Europe were headed for their biggest weekly drops of 2019, even though they were higher on Friday, while the JSE all share climbed 0.5% on the day. This week’s stock market performance was in sharp contrast to that of the rand and bonds, which reached three-week highs as it became clear that the ANC would secure a commanding victory in the national elections, as expected. The outcome was favoured by markets as traders believe it will give Presiden...
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