MARKET WRAP: Rand, JSE firm as sentiment picks up
Positive news from China and strong earnings by US retailers bolsters markets, but analysts warn the positive mood could prove temporary
17 May 2022 - 18:40
The rand broke below 16 to the dollar on Tuesday, while the JSE touched 70,000 points in intraday trading for the first time in a week on hopes that China will ease its Covid-19 curbs.
Shanghai, China’s most populous city, recorded a third day of zero Covid-19 cases outside its quarantine facilities, adding to assumptions that the country would ease restrictions, which will relive some of the pressure on supply-chain disruptions...
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