The JSE fell sharply on Monday, weighed down by risk-off trade on global markets, with local losses once again led by market heavyweight Naspers.
Investors now fear that the trade conflict will get worse before it gets better. China is unlikely to take Google’s suspension of business with Huawei lying down, London Capital Group analyst Jasper Lawler said. This week is a busy one, with the US Federal Reserve set to release minutes from its last meeting on Wednesday. Also on Wednesday, South African inflation data for April is due, while the Reserve Bank will make its current stance on monetary policy known on Thursday.
Earlier, Eskom said its unaudited debt to end-March stood at R440bn, of which R273bn is government guaranteed.
Naspers value is tied to Tencent, a Chinese company. Naspers is too big as a percentage of the JSE Top 40 for the market’s health.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARKET WRAP: JSE slips as trade war weighs on risk assetsConcern that the US-China trade war will escalate before any resolution is found is weighing on global equities, with local banks leading the losses
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE weakens despite some post-election supportAn escalation in the US-China trade war put paid to earlier gains, with only banks and retailers avoiding the worst of the rout
Source: SundayTimesZA - 🏆 47. / 51 Read more »
MARKET WRAP: Poor economic data pushes JSE to six-week lowEbbing fears about the US-China trade war failed to lift the local bourse, with Naspers falling after authorities blocked its bid to buy WeBuyCars
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE closes higher despite US-China strifeThe all share was up 0.88% with resources leading the gains, up 1.08%; the top 40 rose 0.97%
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE closes higher despite US-China strifeThe all share was up 0.88% with resources leading the gains, up 1.08%; the top 40 rose 0.97%
Source: TimesLIVE - 🏆 28. / 59 Read more »