The JSE closed lower on Thursday while global peers remained mixed with European and American markets firmer while Asian markets closed in the red as investors turn their attention to rising Covid-19 cases in China.
China’s healthcare system has been overwhelmed by the influx of Covid-19 patients after the country eliminated almost all its remaining coronavirus restrictions, including testing and quarantine measures.
Many countries have responded by instituting travel restrictions on passengers entering from China, which include testing requirements for travellers.
Italian health authorities say that around 50% of passengers arriving on two flights from China to Milan had Covid-19, reports Bloomberg. The Italians say the passengers had the Omicron variant of the coronavirus and no new mutations were found among those that tested positive.
Investors are also worried about an economic slowdown in 2023 with global recession fears weighing on sentiment.
The JSE All Share Index closed 0.92% lower at 73,597 points while the Top 40 was 0.97% lower at 67,497 points.
At 17:18, The Dow Jones Industrial Average had risen by 316 points or 1%. The S&P 500 gained 1.5%, and the Nasdaq Composite climbed 2%. US stocks jumped following the release of the latest joblessness numbers, which showed an increase in unemployment.
The UK’s FTSE 100 increased by 0.24%, France’s CAC 40 was up 0.67% while Germany’s DAX added 0.75%.
In Asia, the Japanese Nikkei lost 0.94% while the Shanghai Composite was 0.44% lower and the Hong Kong Hang Seng closed 0.79% down.
In the currency markets, the rand opened firmer at R17.08/$ having closed at R17.11/$ the previous day. The local unit is currently trading firmer having dipped under the R17.00 mark at R16.94 versus the greenback.
Currency trading is expected to be very quiet over the next two days as the year comes to an end.
