Renewed worries about possible rise in inflation and interest rates
The JSE, which is close to record highs, is likely to stage a retreat on Tuesday amid renewed worries about the potential rise in global inflation and interest rates.
The trading picture was grim in Asia, where Hong Kong’s Hang Seng and Japan’s Nikkei 225 tumbled 2% and 3%, respectively.Tencent, which gives direction to the JSE through the Naspers stable, dropping in the region of 3%. The resilience in the rand, which hit a 16-month high on Monday, could be connected to higher commodity prices, such as iron ore and copper, which are near record highs.
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