The JSE faces weaker Asian markets on Wednesday morning, with sentiment jittery due to accelerating inflation in the US, while SA grapples with the threat of prolonged riots and looting.
Global markets have also come under some pressure. Data on Wednesday showed US core inflation, which excludes volatile food and energy components, rose 4.5% year on year in June, its fastest pace since 1991. “Markets seem determined to wait for the Powell congressional testimony this evening before deciding whether more decisive inflation-related surgery is required.” Oanda senior market analyst Jeffrey Halley said in a note.
In morning trade the Shanghai Composite was down 0.82%, the Hang Seng 0.58% and Japan’s Nikkei 0.29%.Gold was up 0.24% to $1,811.78/oz while platinum was flat at $1,107.95. Brent crude was 0.21% lower at $76.20 a barrel.
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Breaking News The Coup has Failed Zuma is Still in Jail CR Ramaphosa is still the President Our Judiciary is a Winner 🏆 The Destruction is a Small Price to Pay The Zuma Looting and Murdererous Massacre is worse than Nkandla and will be the Trademark of the ZUMA CORRUPT RET
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