The Hong Kong Stock Exchange. Picture: REUTERS
If the situation deteriorates, it will not only drag local equities lower but the region as a whole, said FXTM chief market strategist Hussein Sayed. The risk of US-China trade-war disappointment was also high, especially if a deal did not include the rollback of further tariffs, Sayed said.The JSE slipped 1.5% on Friday when US President Donald Trump disappointed the market by suggesting the US had not agreed to roll back tariffs on China.
Massmart relinquished 4.41% to R44.19, Shoprite 2.76% to R134.01, Mr Price 2.85% to R156.74, TFG 2.09% to R157 and Woolworths 1.98% to R58.42. Vodacom fell 0.36% to R134.51 after reporting that HEPS rose 18.9% to R4.60 and net profit 20.8% to R8.2bn in the six months to end-September. The company declared an interim dividend of R3.80, down 3.8% from the year-earlier period, though it declared a special dividend of 60c per share.
Novus slumped 5.56% to R2.55. The printing and manufacturing group said on Monday lower demand across its print category weighed on its results in the six months to end-September. Group revenue declined 3% to R2.22bn, with HEPS falling 40.5% to 29.4c.