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MARKET WRAP: JSE extends gains on bets of slowing rate hikes

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Also helping sentiment on the day is a modest relaxation of Chinese quarantine measures

The JSE added to the previous session’s gains on Friday, on hopes that prospects of cooling inflation in the US will prompt the Federal Reserve to ease up on its aggressive tightening.

Also helping sentiment on the day is the news that China’s zero-Covid policy, which has weighed on business and economic growth, is getting a little looser. China reduced its quarantine time for international visitors by two days, while also limiting contact tracing only to close contact with people who are infected with the virus. ..

 

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