MARKET WRAP: JSE soars and rand firms 2% on speculation China may ease strict Covid-19 policy

Miners pushed the JSE all-share index 5% higher on Friday — its biggest one-day gain since March 2020 — while the rand strengthened 2.1% as global markets rallied on prospects that China’s economy looks set for a growth spurt.

Bloomberg reported on Friday that the world’s second-largest economy is working on a plan to end a system that banned individual flights for bringing in passengers infected with the Covid-19 virus...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 TimesLive Premium.

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Business Maverick: How a Mysterious China Screenshot Spurred $450 Billion RallyNobody is quite sure who wrote it, when it was written or if it’s even true. But a screenshot of four paragraphs detailing a China reopening plan was enough for traders to scoop up stocks for two days running.
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Business Maverick: Markets wrap: Global stocks set for weekly drop and China reboundsGlobal stocks headed for a weekly loss amid fears that Federal Reserve interest rate hikes may trigger widespread recession.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »