MARKET WRAP: JSE surrenders Monday’s gains

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Australia’s surprisingly big rate hike catches investors by surprise with looming US jobs data and Fed meeting adding to the cautious mood

The JSE closed weaker on Tuesday as interest rates and global growth concerns weighed on markets in the wake of a steep hike by an unexpectedly steep hike by Australia’s central bank.

US inflation data, due on Friday, and next week’s meeting of the Federal Reserve’s Federal Open Market Committee are adding to the caution, analysts said...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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