The local bourse was on track for its worst performance in 2019 on Monday morning, after the US president's China tariff threats
The JSE weakened sharply in broad-based losses on Monday morning, as a bout of risk-aversion over US-China trade talks struck global markets
In terms of equities, market heavyweight Naspers was faring worst on Monday morning, slumping 3.56% to R3,590.At 10am the all share was down 1.92% and the top 40 2.11%. Industrials were down 2.39% and food and drug retailers 1.9%. Gold miners had added 0.14%, benefiting from investor interest in safe-haven assets.
Market focus is on US-China trade developments, as reports have suggested the Chinese would pull out of talks scheduled for this week. Local focus is squarely on Wednesday's national polls, the results of which could determine the extent to which President Cyril Ramaphosa will be able to pursue his pro-growth and market-pleasing policies.On Monday morning diversified miner Glencore had lost 2.3% to R55.15, Anglo American 1.99% to R367.04 and BHP 1.93% to R330.59.Rand hedge Richemont had given up 2.19% to R102.48, AB InBev 1.56% to R1,254.18 and British American Tobacco 1.1% to R540.70.Massmart was down 1.74% to R92.61.
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