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MARKET WRAP: JSE tracks global peers weaker, while rand breaches R17/$

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Risks have shifted from inflation to global economic growth, while the recent uptick in China’s Covid-19 cases has added to concerns

The JSE tracked global peers lower on Monday, while the rand breached the R17 per dollar level for the first time since October 2020. Globally, technology stocks were under pressure after Chinese regulators fined both Alibaba and Tencent for past transactions.

The latest penalties imposed on Alibaba and Tencent followed fines on a live-streamer for tax evasion in February, while both Alibaba and Tencent were penalised for violations of antitrust rules in November...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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