MARKET WRAP: JSE closes at two-month low on US-China tariff threat

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The US tariffs, which will come into effect on September 1, have further dampened hopes that the two economic superpowers will reach a deal

The JSE had its worst week in 10 on Friday, closing at a more than two-month low as US President Donald Trump’s latest tariff threat weighed on global stocks.

Earlier, the Shanghai Composite fell 1.41%, Hong Kong’s Hang Seng 2.35% and Japan’s Nikkei 225 2.11%. Soon after the JSE closed, the rand had weakened 0.35% to $14.7141/$, 0.5% to R16.3334/€, abd 0.32% to R17.8398/£. The euro had firmed 0.14% to $1.11. Gold Fields gained 5.31% to R79.11 after the mining company said on Friday that attributable gold equivalent production for the six months ended June increased by 9% year-on-year to 1,083,000 ounces.

 

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Nothing to do with the chaos in this country of course

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