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The JSE All Share made gains on Wednesday as investors awaited new catalysts from the US-China trade talks after Washington said it might reverse some of the tariffs on Chinese goods. At the closing bell, the JSE All Share gained 0.71%.
Wall Street indices fell on Wednesday after market heavyweights such as Microsoft and Facebook made losses, while the energy sector lost its footing due to build up in US crude inventories. Shortly after the JSE closed, the Nasdaq was down by 0.39%.
European markets eased from a four-year high on Wednesday following the release of a mixed bag of earnings reports and poor sector data from the Eurozone. Shortly after the JSE closed, the FTSE 100 lost 0.05%.
Hong Kong stocks were flat on Wednesday as investors sought further direction from the US-China trade talks and clarity on policy easing. The Hang Seng closed 0.02% in the green.
The Nikkei edged up by 0.22% on Wednesday
as hopes for a US-China trade deal, a weaker yen and rising bond yields buoyed
exporters and financials.
The local currency struggled for direction on Wednesday as the euphoria brought about by hopes of a partial US-China trade deal showed signs of fading. At 19h00, a dollar traded at R14.84.
Gold prices rose on Wednesday as hopes of a partial deal that could halt the prolonged trade war between Washington and Beijing slowly lost traction. An ounce of spot gold traded at $1 492.15 at 19h15.
Following a bigger-than-expected build up in US crude inventories, oil prices fell on Wednesday while market participants took cues from the US-China trade developments. At 19h30, a barrel of Brent crude was down 1.66% and traded at $62.23.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer