Adriaan Pask | Aug 15, 2019 07:58
Gold miners pulled the JSE down on Tuesday as global risk appetite improved on news that the US will lift some tariffs on Chinese goods. The local bourse fell 0.32%.
Wall Street rose on Tuesday after the US announced a delay on select Chinese import tariffs, bringing buyers back to the equity market in a broad-based rally. Just after the JSE closed the Dow climbed to 1.55%.
European shares recovered yesterday after Washington’s move to delay tariffs on some Chinese goods provided a lift to global sentiment. After the JSE closed the FTSE 100 had gained 0.39%, the CAC 40 1.35%, and the DAX 30 was up by 0.86%.
Hong Kong shares dropped on Tuesday as escalating anti-government protests left the city’s airport in a gridlock on Monday. At the close of trade, the Hang Seng index was down 2.10%.
Japanese shares fell on Tuesday, hurt by fresh turmoil in Hong Kong and a firmer yen that hit cyclical sectors and exporters. The Nikkei share average fell 1.11%.
The rand was weaker on Tuesday afternoon as investors shied away from risk assets in the wake of escalating political protests in Hong Kong. At 20h30, a dollar traded at R15.14.
Gold reached highs on Tuesday as unrest in Hong Kong and a rout in the Argentine peso drove investors into havens such as bullion. At 20h30, an ounce of spot gold traded at $1 501.23.
Oil prices fell on Tuesday on lingering concerns over global demand and rising US production, though expectations for major producers to further curtail output offered support. A barrel of Brent crude traded for $58.37 at 20h30.
Written By: Adriaan Pask
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