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The JSE closed higher on Wednesday as risk appetite returned to the markets after positive US economic data supported hope for economic recovery. The All Share gained 3.36%.
Better-than-expected economic data along with signals that the Federal Reserve is ready to backstop the US economy boosted investor sentiment on Wednesday and drove a rally in US equities. At 19h00, the Nasdaq gained 0.76%.
European shares rose on Wednesday as expectations of additional US stimulus and hopes of a swift global economic recovery boosted risk appetite. The pan-European STOXX 600 rose 0.70%.
Hong Kong stocks closed somewhat higher on Wednesday in thin trade after Beijing re-imposed travel curbs following a resurgence in new COVID-19 cases. At the close of business, the Hang Seng Index gained 0.56%.
Japanese shares traded lower on Wednesday dragged by a sluggish performance by automakers following weak export data, while tensions between North Korea and South Korea also weighed on market sentiment. The Nikkei lost 0.56%.
The rand firmed alongside some of its emerging-market peers on Wednesday as positive US economic data supported hopes for a speedy economic recovery.
Gold prices eased on Wednesday amid hopes of finding a potential COVID-19 drug and a stronger US dollar. At 19h35, Spot gold was trading at $1 727.82/oz.
Oil prices rose on Tuesday as fuel demand showed signs of recovery while a potential coronavirus drug boosted risk appetite. Brent Crude traded at $40.38 a barrel.
Source: Reuters, Business Day, Trading Economics
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