JSE edges slightly higher as trade tensions simmer
The US has hit Chinese telecoms giant Huawei with sanctions, escalating the conflict between the world’s two-largest economies
The JSE pushed a little higher on Thursday morning amid a recovery from market heavyweight Naspers, despite global uncertainty over trade conflict. The rand was slightly weaker after US President Donald Trump signed an executive order on Wednesday that will allow authorities to bar Chinese telecoms giants Huawei and ZTE from US markets, threatening to further damage the relationship between the world’s two largest economies. Sentiment was, however, lifted a little on Wednesday after Trump promised to delay tariffs on eurozone cars by about six months. Trade concerns continue to drive market sentiment, but the JSE was faring somewhat well on Thursday morning, led by Naspers. At 9.10am Naspers was up 0.47% to R3,329.70, recovering a little from Wednesday’s 1.08% loss. That had followed news that the Competition Commission had recommended the company’s proposed takeover of WeBuyCars be blocked, saying this could lead to increased prices for used vehicles. The all share was up 0.25% to...
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