MARKET WRAP: Rand, JSE firm as sentiment picks up

Positive news from China and strong earnings by US retailers bolsters markets, but analysts warn the positive mood could prove temporary

The rand broke below 16 to the dollar on Tuesday, while the JSE touched 70,000 points in intraday trading for the first time in a week on hopes that China will ease its Covid-19 curbs.

Shanghai, China’s most populous city, recorded a third day of zero Covid-19 cases outside its quarantine facilities, adding to assumptions that the country would ease restrictions, which will relive some of the pressure on supply-chain disruptions...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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