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The JSE closed 0.37% lower
on Tuesday, tracking most global markets as the rising number of global
COVID-19 infections forced more European countries and US states to reimplement
stricter lockdown measures.
Wall Street opened lower on Tuesday after more US states announced stricter lockdown measures to curb the increasing number of COVID-19 infections. At 17h50, the Dow Jones had lost 0.92%.
European markets pulled back from Monday’s vaccine rally as more COVID-19 restrictions were implemented across the continent. The STOXX 600 ended the day 0.24% lower.
The Hang Seng ended Tuesday 0.13% higher at 26 414.45 points as energy share gains offset tech losses caused by US-China trade escalations fears.
The Nikkei closed 0.41% in the green on Tuesday, boosted by optimistic sentiment that Moderna’s potential vaccine could lead to a quicker global economic recovery.
The local currency traded lower as global risk-on trade softened and focus turned to the SARB’s upcoming interest rate decision and the series of credit rating announcements. At 17h50, the rand traded at R15.41/$.
Gold prices edged down on Tuesday as the rising global COVID-19 cases and the weaker dollar overshadowed vaccine optimism. Gold traded at $1 885.84/oz at 17h50.
Despite possible tighter OPEC+ supply policies, Brent crude fell to $43.31 a barrel on Tuesday because of fears around the impact of rising COVID-19 cases on oil demand.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer