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The JSE was closed due to the national and provincial elections.
Wall Street extend a two-day losing streak on Wednesday as investors expressed their concerns over the outcome of the infamous US-Sino trade negotiations. At 17h30, the Dow futures had lost over 0.10%.
European shares inched upwards on Wednesday despite sharp declines in Asia and on Wall Street, where the sectors susceptible to trade conditions were hard hit by the unexpected tariff hike on $200 billion worth of Chinese goods. At 17h30, the pan-European Stoxx 600 gained 0.02%.
Hong Kong shares traded lower on Wednesday as poor trade data from China and fears of an escalation in the US-China trade war prompted investors to shy away from riskier assets. The Hang Seng ended the day 1.23% in the red.
Japan’s Nikkei fell to a five-week low on Wednesday as on-going trade tensions weighed heavily on the markets and a firm yen dragged exporters through the mud. At 17h30, the Nikkei lost 1.46%.
The local currency remained stagnant in a tight range as the elections took place on Wednesday, with investors keeping a close eye on the outcome. At 17h40, the rand traded at R14.35 against the dollar.
Gold prices peaked at a one-week high on Wednesday as fresh concerns over the US-China trade dispute and the effect thereof on global growth reduced risk sentiment, pushing investors towards safe-haven assets such as bullion. At 17h40, spot gold was up trading at $1 288.43 an ounce.
Oil prices steadied on Wednesday as tighter global supply somewhat eased concerns over the escalating US and China trade war, this after Washington increased tariffs on $200 billion worth of Chinese goods to 25%. At 17h45, a barrel of Brent crude was trading at $70.41.
Source: Reuters, Business Day, Trading Economics
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