Picture: MARTIN RHODES
Picture: MARTIN RHODES

The JSE was under pressure on Wednesday morning while global markets were mixed as investors digested news pertaining to the US-China trade war. 

Reports that China is considering tighter visa restrictions for US citizens linked to anti-China groups further dampened hope that the two countries will soon put an end to the prolonged trade war. Chinese and US  officials are expected to meet in Washington on Thursday.

Earlier this week, the US blacklisted 28 Chinese companies over the  country’s treatment of predominately Muslim ethnic minorities. 

“It looks like this week’s negotiations will be held in quite a tense atmosphere. The trade war between the US and China is taking a perilous political turn. If it comes down to an ideology clash, then the world should prepare for further disruptions in global trade,” said London Capital Group senior market analyst Ipek Ozkardeskaya.

Earlier, the Shanghai Composite added 0.39% while Hong Kong’s Hang Seng was down 0.81% and Japan’s Nikkei 225 0.99%. 

At 10.45am, the JSE all share lost 0.38% to 54,324.3 points and the top 40 0.39%. Industrials were down 0.57% while gold miners added 2.69%. 

Adcorp CEO Innocent Dutiro has resigned, the company said on Wednesday. The company’s CFO Cheryl-Jane Kujenga will serve as its interim CEO. Its share price was unchanged at R16.20. 

mjoo@businesslive.co.za