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MARKET WRAP: JSE gains as US-China trade war still in focus

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The Standard Bank purchasing managers’ index fell to 48.6 points in November from 49.4 in the previous month

The JSE was higher on Wednesday while global markets were mixed as investors monitor the latest developments in the US-China trade war.Uighur Muslim minority will affect relations between the two economic superpowers, Reuters reported on Wednesday, adding to market concern about the trajectory of the protracted battle over trade.

The US is expected to impose another tariff hike on Chinese goods from December 15, with analysts saying this will likely rattle markets. Earlier, the Shanghai Composite fell 0.23%, Hong Kong’s Hang Seng 1.25% and Japan’s Nikkei 225 1.05%. Gold was down 0.28% to $1,472.8/oz and platinum 0.78% to $902.68. Brent crude climbed 3.08% to $62.88 a barrel, amid speculation that oil cartel Opec might extend oil output cuts at their meeting on Thursday.

 

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