JSE extends losses to fourth session‚ led by miners

The JSE softened 0.85% on Friday‚ ending the week with yet another session of broad-based losses.

The rand was stable against the dollar and global markets were generally buoyant. The JSE‚ however‚ has not benefited from risk-on trade stemming from news of easing US-China trade tension.

Emerging markets‚ including the JSE‚ have been particularly hard hit by trade war jitters. Analysts suggest the rising protectionism could accelerate a slowdown in their exports.

While trade tension has prompted a cautious emerging-market outlook over the short term‚ trade between these markets had become more important in recent years‚ said Franklin Templeton analysts. Rising protectionism could accelerate this trend.

The pound weakened against the rand and the dollar after US president Donald Trump criticised UK prime minister Theresa May for the softening of her stance on Brexit.

Source link

More from Matthew Eileen

Moody's plunges Steinhoff debt even deeper into junk

30 December 2017 – 00:00 By REUTERS Ratings agency Moody’s on Thursday...
Read More