The JSE traded 0.89% firmer on Wednesday while global peers also moved stronger as anxiety over US-China relations eased slightly while more hawkish comments from the US Federal Reserve will keep investor appetite cautious.
The All Share Index closed at 68,611 points.
The rand has come under pressure against the US dollar following its biggest surge in three weeks against major peers overnight. The greenback continued to rise following the hawkish comments from the Fed, which have indicated the potential for more aggressive interest rate hikes.
The rand is currently trading at R16.85/$ having reached R16.45 versus the greenback earlier in the week.
Back on the JSE, in company news, Absa (2.85%) said via a trading update that it expects profit to increase by 25% to 30% for the six months to end-June. The bank group will release its financial results on August 15.
Banking peers Standard Bank (2.12%), FirstRand (2.22%), Nedbank (1.83%), and Capitec (1.95%) all ended in the green.
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