EDITORIAL: SA markets get an early Christmas present
Rand starts December on a firm footing, building on its best November against the dollar in about three decades
To say things are looking up for South African markets ahead of Christmas would be a bit of an understatement. After a turbulent 2018, in which it was hurt by everything from US-China trade tension to the debate about the ANC’s policy on expropriation without compensation, the rand began December on a firm footing, building on what was its best November against the dollar in about three decades. The latest supportive news was relief at the G20 meeting in Argentina taking place without an escalation in the US-China trade dispute. But it’s unclear how long that truce will last because, as investors have seen before, one tweet can dramatically alter the landscape. For now, they are just relieved at the agreement that the US will not impose further tariffs on China for 90 days. The relief was particularly acute in Asian shares, which tended to suffer the most in previous rows. That lifted markets across the board, with gains in technology stocks propelling Naspers up to more than 8% hig...
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