JSE hovers near four-month low
A weaker rand is weighing on banks and retailers, although a slightly improved global mood is lifting Asian shares
The JSE was subdued on Tuesday, hovering near a four-month low as uncertainty persists both domestically and in global markets. The Shanghai Composite earlier gained 0.61%, the Hong Kong Hang Seng had risen 0.38% and Japan's Nikkei 225 0.31%. The Asian markets received a boost following US president Donald Trump's visit to Japan where he expressed confidence in the trade negotiations between the two countries. Trump's four-day trip came in the midst of the prolonged trade war between the US-China, which escalated in May after the US blacklisted Chinese telecoms company Huawei. Local focus remains on the composition of President Cyril Ramaphosa's new cabinet, with reports on Tuesday suggesting that ANC deputy president David Mabuza may receive a position in the executive, despite declining a position as an MP last week. Mabuza cited a need to clear himself of allegations of impropriety, but the ANC's integrity commission is reportedly set to release a report later in the day.At 10.45...
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