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The JSE slipped to its lowest level in four months a day after the general elections, amid risk-off global trade. Shortly after the closing bell, the All Share plunged 2.67%.
US stock index futures tumbled on Thursday as Trump fuelled trade tensions with China, hiking tariffs on $200 billion worth of Chinese goods by 25%. At 19h00, Dow Jones futures had lost over 0.80%.
European shares traded lower on Thursday as investors avoided riskier assets amid fears of an escalating trade war that could damage the global economy. At 19h15, the pan-European Stoxx 600 lost 1.65%.
Shares in Hong Kong plunged on Thursday as investors voiced out concerns over the US-China angst and how it could affect global growth. Hang Seng ended the day 2.39% in the red.
The Nikkei recorded losses for a fourth consecutive day on Thursday as investors exercised caution ahead of the next round of trade talks between the world’s largest economies. At 19h30, the Nikkei had lost 0.96%.
The rand was firmer against major global currencies on Thursday as counting continued after SA’s general elections. At 19h35, the rand traded at R14.34 against the dollar.
Gold prices steadied on Thursday as demand for government bonds and the yen trimmed gains for the safe-haven metal. At 19h40, spot gold was up trading at $1 284.59 an ounce.
Oil prices slipped on Thursday as the US-Sino trade dispute outweighed upward pressure from declining US crude inventories. At 19h45, a barrel of Brent crude was trading at $70.60.
Source: Reuters, Business Day, Trading Economics
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