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MARKET WRAP: JSE in holding pattern before Jackson Hole

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Investors appear unwilling to take big positions, preferring to wait for guidance from monetary policymakers at the annual symposium in the US

The JSE ended flat on Wednesday after a patchy session, which suggests that traders are reticent to make big bets before the Jackson Hole Symposium in the US from Thursday to Friday.

“It’s interesting that the fear of what could be said is seemingly having a far greater impact on sentiment and the markets than what has actually been communicated in recent weeks,” said Craig Erlam, senior market analyst at Oanda The JSE gained less than 0.1% with the all share closing at 69,808.71 points, as pockets of strength in resource and industrial stocks were counterbalanced weakness in financial stocks and listed property.

 

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