Apologies, It seems that we couldn't find any results for ""
Try these search tips:
Please select which division you would like to log in to.
Please select which division you would like to register for.
The local markets ended
flat on Wednesday, following global markets into the negative as investors grew weary on the back of renewed trade conflict fears. The Top 40 closed down 0.17%.
Wall Street indices slipped on Wednesday after reports surfaced that the first phase of the US-China tariff deal might only be completed in 2020. At 17h50, the Dow traded 0.41% in the red.
European markets recorded their worst day in three weeks as the “increasing political strain between Washington and Beijing” weighed on investor sentiment. The pan-European STOXX 600 Index dropped 0.12%.
On Wednesday, Hong Kong shares fell as “China’s foreign ministry said the United States should stop interfering in Hong Kong and Chinese affairs” renewing concerns about a possible trade solution. The Hang Seng Index dropped 0.75% for the day.
The IT sector recorded the biggest drop on Wednesday, pulled down by semiconductor companies, after US President Donald Trump reiterated his plan to raise tariffs on Chinese imports if a solution is not reached. The Nikkei fell by 0.62%.
The local currency slipped against the dollar on Wednesday as investors embraced a risk-off mood in light of the worsening US-China trade relations. At 17h50, the rand was trading R14.76 to the US dollar.
Gold prices basked in the risk-off sentiment on Wednesday, offering a safe-haven for investors who were worried about the new US-Sino trade war developments. An ounce of gold cost $1 468.04 at 17h50.
News that Russia would continue to work with OPEC to balance the global oil market and better-than-expected US inventory data boosted the oil price on Wednesday; however, trade concerns countered some of the day’s gains. Brent crude traded at $61.88 a barrel at 17h50.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer