MARKET WRAP: JSE has biggest weekly drop since August

The JSE concluded its worst week in 23 on Friday as fears that China’s coronavirus could turn into a pandemic hurt market sentiment.

“The coronavirus outbreak is intensifying, and Beijing is scrambling. Outrage is growing as local officials failed to address the contagion risks earlier. Concerns are growing that the travel bans in place will start to have a major impact on the economy with some saying it may have a one percentage point hit, or greater, on Chinese GDP,” Oanda senior market analyst Edward Moya said.

“Weak levels of economic demand and high real interest rates continue to support the rand fundamentally, assisting in compressing nominal yields but also to reduce the depreciation potential in the rand,” Mercato Financial Services analyst Nico du Plessis said.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sky’s the limit as Tesla targets mass marketElectric carmaker’s share price soars as company plans higher production
Source: BDliveSA - 🏆 12. / 63 Read more »

Philip Morris aims to snuff out rivals in e-cigarette marketCompany may revive merger talks with Altria and launches its e-vapour IQOS Mesh product in 2020
Source: BDliveSA - 🏆 12. / 63 Read more »

Gold dips as market awaits European Central Bank decision“It looks like the market doesn’t really have the impetus it needs to go one way or another.”
Source: BDliveSA - 🏆 12. / 63 Read more »

Luxury property market in SA on the riseThe R92-million home is on the market, and it's being sold by an anonymous owner based in the United Kingdom. What's going on with that statue? While there's subpar growth forecasts, retrenchments and high unemployment. We can see that there's something wrong with this societal system right? A house for 🇺🇸 $ 6 406 685.24 (🇿🇦 R 92 million) wow!
Source: eNCA - 🏆 49. / 51 Read more »

JSE on track for worst week in eight months on FridayThe JSE is on track for its worst weekly loss since May on Friday, as investors digest news out of Asia regarding the coronavirus outbreak.
Source: BDliveSA - 🏆 12. / 63 Read more »

Panday and Booysen – poles apart - and 5 highlights from 'Vrye Weekblad'Why were police chiefs and the NPA bosses willing to lie under oath for Panday and protect him at all cost?
Source: TimesLIVE - 🏆 28. / 59 Read more »