Mon, 25 Jan 2021

JSE firmer as global markets remain buoyant

20 Nov 2019, 04:13 GMT+10

The JSE surged for a second consecutive session on Tuesday as it tracked global markets higher.

US indices recorded fresh all-time highs led by tech shares as the main equity bourses continued to show signs of resilience.

The upward momentum started off in Asia as the Hang Seng and Shanghai Composite Index closed 1.55% and 1% higher respectively.

The Nikkei however closed 0.53% softer. Stocks in Europe traded mostly higher while US equity futures also pointed higher for most of the day's session before the spot market opened.

On the currency market, the US dollar retreated against a basket of major currencies which saw gains being recorded for emerging market currencies including the rand.

The local unit peaked at a session high of R14.71. At 17:00, the rand was trading 0.16% firmer at R14.78/$.

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