The All-Share index closed 2.31% lower at 54,975 points, while the Top-40 index ended the day 2.52% down to 49,066 points, after both weakened to levels last seen on May 30slipped to seven-week lows against the dollar on Monday, as prospects of a sharp escalation in the U.S.-China trade war turned investors risk-averse.
The fall came after Beijing vowed on Friday to retaliate against U.S. President Donald Trump’s decision to slap 10% tariffs on the remaining $300 billion of Chinese imports, a move that ended a month-long trade truce. “With little in the way of good news, we can expect the rand to try and test the R15.00 level with risk sentiment currently hugely in favour of safe-haven assets,” Andre Botha, a Senior Dealer at TreasuryONE, said in a note.
In the equities market, both major indexes were also hammered by fast receding risk appetite, with the Johannesburg All-Share index and Top-40 index weakening to more than two-month lows.
We don't have mechanisms to strengthen our currency because China and America they are doing everything to make their currency to be strong during this trade war .
Our Rand is surely having a challenging position, even when things are trying to work out in our shores, still other things affects it. We should consider radical methods of sustaining it's strength.
Sverige Senaste nytt, Sverige Rubriker
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