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The JSE rose on Wednesday, as global risk assets continued to recover from the effects of the coronavirus outbreak. The All Share closed up by 1.07%.
US stocks surged on Wednesday, helped by strong monthly domestic private jobs data and reports of progress in developing a treatment to fight the fast-spreading coronavirus. The Dow Jones was up by 1.08% at 18h40.
European shares jumped yesterday after media reports of significant breakthroughs in treating people affected with the new coronavirus, with a slate of upbeat earnings reports also lifting the mood. At 18h40, the DAX was 1.54% in the green.
Hong Kong stocks gained on Wednesday as investors bet on further policy support from Beijing to offset the economic impact of a rapidly spreading coronavirus. At the close of trade, the Hang Seng index was up 0.42%.
Japanese shares rose on Wednesday as a Wall Street rally and weaker yen boosted investor sentiment, although worries over the fast-spreading coronavirus outbreak capped gains. The benchmark Nikkei average rose 1.02%.
The rand strengthened yesterday, as global markets mulled over mixed reports about medical research into the coronavirus. At 18h45, a US dollar traded at R14.80.
Gold prices steadied on Wednesday, as reports of drug breakthroughs in treating the coronavirus lifted European shares and dented some of bullion's safe haven appeal. At 18h40, an once of spot gold traded at $1 559.00.
Oil prices climbed on Wednesday after reports that scientists have found an effective drug against China's fast-spreading coronavirus, which has hit the world's second-largest economy in recent weeks. A barrel of Brent crude traded at $56.75 at 18h40.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer