MARKET WRAP: JSE drops due to volatile equity market

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

Malaysia News News

JSE weakens with global equity markets as retail traders cause havoc on US markets

29 January 2021 - 18:17The JSE retreated along with global equity markets amid ongoing concern about heightened market volatility driven by a retail trading frenzy, even as positive vaccine news boosted optimism about a recovery from the Covid-19 pandemic.

Johnson & Johnson said on Friday its single-dose vaccine was 72% effective against Covid-19 in the US though only 66% effective in Latin America and 57% in SA, where a more contagious variant is largely responsible for a surge in infections. The JSE all share closed 1.2% lower at 62,472 points and the top 40 fell 1.3% to 57,312 points. Naspers, which accounts for about 21% of the top 40’s value, fell 1% to R3,478, while Prosus, its international internet arm, weakened 1.4% to R1,754.40.

At 5.09pm, the rand had firmed 1.1% to R15.04/$, 0.9% to R18.27/€ and 1.1% to R20.64/£. The dollar was moderately weaker against the euro and little changed against the pound as investors weighed positive vaccine news with volatile stock market swings.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Get a trusted Bitcoin expert and stick to hes Marksust7 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines