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The local market ended the week in the green on the back of more positive comments from the Chinese government regarding the tariff war, lifting sentiment globally. The JSE All Share closed 1.56% up.
US indices extended gains from Thursday by opening strong on Friday due to optimism that the US and China will soon resume negotiations. At 17h45, the Dow Jones was 0.19% in the red.
European markets ended a brutal month of trade on a higher note on Friday thanks to the upbeat comments about the protracted trade war made by the US and Chinese governments. The STOXX 600 ended the day 0.73% higher.
Despite the optimism surrounding the US-Sino tariff dispute, Hong Kong shares recorded the biggest monthly drop since May on Friday due to simmering protests. The Hang Seng Index closed 0.66% lower.
Japanese markets posted sharp gains on Friday, rising 1.40% for the week, as Chinese-linked shares advanced on hopeful signs that the US and China will recommence negotiations. The Nikkei Index closed 1.19% up.
The local currency strengthened against the dollar on Friday thanks to improved sentiment over the US-China trade war that boosted risk-on trade. At 18h45, a dollar traded at R15.20.
Although the gold price was flat on Friday, it was still on its way to record its fourth consecutive monthly gain. At 18h45, an ounce of spot gold traded at R1 528.28.
Despite the oil price losing some of its latest gains on Friday, it still recorded its biggest weekly rise since July – almost 2%. At 18h45, a barrel of Brent crude traded at $59.39.
Source: Reuters, Business Day, Trading Economics
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