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The local bourse closed lower on Monday after a steep sell-off on Chinese indices overnight, putting pressure on commodity prices. The JSE All Share closed down by 0.45%.
Wall Street’s main indexes opened higher on Monday, following losses last week due to growth concerns stemming from the coronavirus epidemic. At 17h51, the Nasdaq was up by 1.48%.
European shares inched up on Monday, recovering from their worst week in nearly seven months as jitters remained over the economic fallout from a virus outbreak in China. The FTSE 100 traded 0.89% in the green at 17h51.
Investors erased $393 billion from China’s benchmark stock index on Monday, sold the yuan and dumped commodities as fears about the spreading coronavirus and its economic impact drove selling on the first day of trade in China since the Lunar New Year. The Shanghai Composite closed down 7.72%.
Japanese shares closed lower on Monday, tracking a sharp sell-off in Chinese equities, on rising worries over the economic impact from the coronavirus outbreak in China. The Nikkei index ended 1.01% lower.
The local currency made up some losses on Monday, trading 0.77% higher than last week Friday. At 18h00, a dollar traded at R14.89.
Gold fell on Monday as the dollar firmed and investors opted for riskier assets after China took steps to relieve pressure on its economy from the impact of the coronavirus epidemic. An ounce of spot gold traded at $1 574.09 at 17h56.
Oil prices fell on Monday, dragged down by concern over demand in China after the coronavirus breakout, though the possibility of deeper crude output cuts by OPEC and its allies offered some price support. A barrel of Brent crude traded at $56.41 at 17h56.
Source: Reuters, Business Day, Trading Economics
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