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The local market took a knock for the third day in a row on Wednesday on the back of consumer inflation rising to 4% for December. The JSE lost 0.10% on the day.
Wall Street opened higher on Wednesday as investors felt more at ease by China’s efforts to contain the virus outbreak. At 20h00, the S&P 500 was 0.26% higher.
European indices reversed earlier gains, closing flat on Wednesday after US President Donald Trump "threatened to impose high tariffs on imports of cars from the European Union” at the World Economic Forum in Davos. The STOXX 600 Index fell 0.08% for the day.
Asian markets made up some losses due to China’s swift efforts to contain the virus outbreak that eased investor concerns. At close of trade, the Hang Seng gained 1.27%.
Despite continuous pressure on the tourism industry, Japanese shares made up some previous losses on Wednesday as investor fears eased and hygiene-related firms performed strongly. The Japanese index closed 0.70% firmer.
On Wednesday, the local currency rose over 1%, boosted by investors returning to riskier assets. At 20h00, the rand traded R14.32 to the US dollar.
Bullion prices eased somewhat on Wednesday as investors turned to riskier trades while markets expect dovish monetary policy from global central banks. An ounce of gold cost $1 557.76 at 20h00.
Oil prices slipped over 2% on Wednesday as the International Energy Agency forecasting a surplus oil supply combined with demand concerns outweighed Libya’s production worries. At 20h00, a barrel of Brent crude traded for $63.41.
Source: Reuters, Business Day, Trading Economics
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