The JSE closed over 1% higher on Tuesday after large losses to bourse heavyweights Naspers and Prosus dragged it down during the previous session.
There was no repeat of the heavy losses Naspers/Prosus suffered on Monday when it slumped 16% due to its exposure to China via a 29% stake in tech firm Tencent, which dropped 11% in value on Monday.
The losses came after Chinese President Xi Jinping secured an unprecedented third term as leader and installed hardliner loyalists in key economic positions, which spooked markets.
Naspers traded 2.50% stronger and Prosus added 1.49% while Tencent traded flat on Hong Kong’s Hang Seng.
The All Share Index added 1.35% to close at 65,851 points.
In Europe, markets were mixed while in the United Kingdom the FTSE traded lower as Rishi Sunak officially begins work as prime minister warning the country that difficult decisions lay ahead.
Meanwhile, in the currency markets, the rand briefly tested the R18.50/$ level before fighting back against the greenback to see the dollar trade lower during the afternoon session. The pound is trading stronger against the rand.
The local unit is currently trading at R18.20/$.
