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The JSE started the week slow, tracking global markets, due to continuous coronavirus concerns weighing on risk sentiment. The All Share weakened 0.75% for the day.
Analysts’ projections that Apple Inc will lose quarterly smartphone sales in China because of production suspension and retail closures due to the virus outbreak led to Wall Street opening lower on Monday. At 19h30, the Nasdaq stood 0.52% stronger.
The STOXX 600 leaned marginally higher on Monday as gains in the construction sector were offset by losses in oil and gas shares. The pan-European index closed up 0.07%.
rising death toll of the coronavirus dragged down Hang Seng shares on Monday as
investors feared a global economic slowdown. At the close of trade, the Hang
Seng Index was down 0.82%.
Despite strong US employment data released on Friday, Japanese shares took a knock on Monday, weighed down by the coronavirus fears and disappointing corporate earnings. The Nikkei closed down 0.60%.
The local currency made up some ground against the dollar
on Monday as investors waited for key South African economic data to be
released. At 19h30, the rand traded R15.02 to the dollar.
Although gold prices reached its highest point in the week on Monday, gains were capped by the strong performance of the US dollar. Spot gold traded at $1 575.58/oz by 19h30.
Since its January peak, the oil price has lost 20%. The latest hit being weaker demand from China in light of the virus outbreak. Brent crude traded at $53.98 a barrel at 19h30.
Source: Reuters, Business Day, Trading Economics
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