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The All Share closed slightly lower on Thursday as fears of a second wave of COVID-19 infections in China and the US fanned investor sentiment. The All Share closed down by 0.16%.
Wall Street opened lower on Thursday as infections in parts of the US threatened to upend bets of a swift economic recovery, with data showing weekly jobless claims remained elevated. The Dow Jones traded 0.10% in the red at 17h40.
European shares retreated on Thursday as a spike in COVID-19 cases in China and some US states triggered fears of a second wave of infections. The pan-European STOXX 600 Index fell 0.30%.
Hong Kong shares recovered most of their earlier losses to end flat, helped by Beijing’s pledge for more reforms and liquidity to boost the world’s second-largest economy. The Hang Seng closed down by 0.02%.
Japanese shares closed lower on Thursday as increasing cases of the novel coronavirus across the US and China raised concerns about a swift recovery in the global economy. The Nikkei fell 0.45%.
The rand was weaker on Thursday as hopes of recovering economies were offset by fears of a second wave of coronavirus infections. The rand has now lost more than 18% of its value against the dollar in 2020. At 17h45, a dollar cost R17.50.
Gold prices were steady on Thursday, with the metal caught between a strengthening US dollar and a pullback in global equities, as worries over new coronavirus cases delaying economic recovery weighed on markets.
Oil prices were broadly stable on Thursday as Brent erased losses ahead of a meeting of OPEC members and their allies against the backdrop of demand concerns over new COVID-19 cases in China and elsewhere.
Source: Reuters, Business Day, Trading Economics
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