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The local bourse was pulled down somewhat on Wednesday by Naspers, which fell 1.10%, and miners; however, positive economic data supported retailers. The All Share closed 0.07% in the red.
Despite the lower US inflation rate that supported the possible interest rate cuts, US shares were weighed down by US President Donald Trump taking a tougher stance against China in the US-Sino tariff war. At 21h15, the Nasdaq was down 0.36%.
European shares fell on Wednesday due to banks and oil companies performing poorly, soft economic data from China and Washington toughening its stance on the trade talks with China. The STOXX 600 closed 0.30% lower.
Financial markets in Hong Kong came under pressure on Wednesday as thousands of protestors and police clashed regarding a mass demonstration against legislation to extradite citizens to China. The Hang Seng ended 1.94% in the red.
On Wednesday, Japan’s Nikkei lost Tuesday’s gains as investor fears increased because Trump took a firmer stance in the US-China trade negotiations. The benchmark Nikkei fell by 0.35%.
The rand, which was the worst-performing emerging market currency, lost some ground on Wednesday due to rising uncertainty in the global arena. At 21h15, a dollar traded for R14.88.
Bullion prices rose on Wednesday as investors flocked to the safe-haven after concerns around the US-China trade war flared up. At 21h15, an ounce of spot gold traded at $1 332.52.
Despite OPEC extending supply cuts, oil prices plummeted on Wednesday due to US stockpiles rising and weaker demand. At 21h15, a barrel of Brent crude traded at $60.64.
Source: Reuters, Business Day, Trading Economics
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