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MARKET WRAP: JSE snaps four-week winning streak

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The rand has resumed its winning ways after losing nearly 2% in the first week of 2020

The JSE ended a four-week winning streak on Friday, but the rand returned to gains after losing nearly 2% in the first week of the year as geopolitical tension had a deleterious effect on emerging markets.

US non-farm payrolls for December came in below market expectations, data showed on Friday. Non-farm payrolls increased by 145,000 from 256,000 in November. This was below the consensus of 164,000, according to Trading Economics. The labour data is considered a crucial indicator of the health of the US economy.

Earlier, the Shanghai Composite was little changed while Hong Kong’s Hang Seng rose 0.27% and Japan’s Nikkei 0.47%. Gold was flat at $1,552.83/oz but recorded its fifth consecutive weekly gain. Platinum added 0.56% to $973.16. Brent crude lost 0.34% to $65.18 a barrel.

 

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