The JSE rose for a second day and the rand weakened as SA considered imposing harsher socio-economic restrictions to curb the spread of Covid-19 as the country grapples with a spike in infections caused by a new strain of the virus.
The UK government banned flights from SA as of 9am on Thursday after a new Covid-19 strain originating in SA was detected in parts of England. Chinese regulators summoned six internet giants, including Alibaba and Tencent, to a meeting on Thursday, saying they were boosting regulation of bulk-buying practices in which they were involved. A significant portion of Naspers’s market value stems from its 31.2% stake in Tencent.
At 1.16pm, the rand traded at R14.65/$, R17.87/€ and R19.94/£. The dollar traded marginally weaker against the pound and euro ahead of Christmas Day celebrations amid expectations that rising Covid-19 infections and the detection of new strains in the UK could result in harsher lockdown restrictions.