US President Donald Trump accused China of reneging on its trade commitments, while SA’s elections provide another reason for caution
The JSE posted sharp and broad-based losses on Thursday morning, in line with global markets, with investors wary about escalating trade conflict between the US and China.
Amid broad-based losses, diversified miners fared worst on the JSE, weighed down by a sharp drop in oil prices. Markets were pricing in the limited risk of talks breaking down, although the news flow remained confusing, said SPI Asset Management’s Stephen Innes. “Markets are still very much on the fence whether this week’s trade developments are just hardball tactic from Trump or the start of an authentic threat to the global growth narrative.”
Local data will also grab some attention, with mining and manufacturing data for March due at 11.30am. The data will provide some insight into SA’s economic performance in the first quarter.
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