The JSE continued to fall today, closing at -0,28%. The stock exchange was showing signs of recovery during the course of the day, but like yesterday the index fell after Wall Street opened negatively.
The US exchanges traded in the red in the early morning trading on worries of lower third-quarter corporate profit. In addition, the International Monetary Fund, IMF, downgraded its forecast for the global economy with a sharp warning: “The worst is yet to come, and for many people 2023 will feel like a recession.” At noon the Dow Jones was, however, trading in the green, while S&P 500 and Nasdaq were down somewhat.
The JSE was also affected by the fact that Tencent yesterday took a hit after the US announced the implementation of new export controls against China. Tencent fell by 3,49% and influences the JSE via Naspers.
JSE-listed fund manager Sygnia listed its Sygnia Itrix Sustainable Economy exchange-traded fund on the Johannesburg Stock Exchange, which tracks the S&P Kensho Sustainable Technologies Index. The ETF closed down by 0,23%.
In the currency markets, the dollar weakened against the rand by 0,5% and was at 5,40 pm trading at R18.05/$.
On the commodity front, brent crude is trading at $94.20 a barrel, down by more than 2%, while the gold price strengthened and trades at 1 678.95.
