The JSE may feel pressure on Friday morning with Asian markets under severe pressure after the White House moved to ban US companies from doing business with WeChat owner Tencent and ByteDance, the owner of the TikTok app.
The White House cited national security concerns as it effectively barred the use of WeChat and TikTok in the US by giving US companies 45 days to stop financial transactions with the two Chinese tech giants. Tencent’s largest shareholder is Naspers, Africa’s largest company by market capitalisation, and therefore often sets the direction for the local bourse. The Naspers stable owns 31.2% of the WeChat owner.Asian markets were under pressure amid concerns of escalation in the US-China trade war, with focus on US nonfarm payrolls number later.Gold had slipped 0.21% to $2,058.87/oz while platinum had slumped 3.38% to $965.24/oz. Brent crude was down 0.29% to $44.29 a barrel.
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