JOHANNESBURG, Oct 9 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.
– The South African Chamber of Commerce and Industry’s September business confidence index (BCI) due at 0930 GMT.
– The CEO of e-commerce group Naspers, Bob van Dijk, as well as the company’s head for South Africa Phuthi Mahanyele-Dabengwa, to hold a media briefing.
SOUTH AFRICAN MARKETS
South Africa’s rand and stocks weakened on Tuesday as concerns over the upcoming U.S.-China trade talks and escalating tensions between London and Brussels sparked a flight to safety, denting appetite for riskier but high-yielding assets.
Asian stocks fell the most in a week on Wednesday as the United States and China’s broadening dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth.
U.S. stocks ended down sharply and near the day’s lows on Tuesday as news that the United States has imposed visa restrictions on Chinese officials overshadowed comments by Federal Reserve Chairman Jerome Powell suggesting openness to further interest rate cuts.
Gold prices held firm on Wednesday as sagging hopes for progress in U.S.-China trade negotiations sapped risk appetite, with markets watching closely for clues on monetary easing by the U.S. Federal Reserve.
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Some of the main stories out in the South African press:
– US-China dispute, Brexit weigh on rand
– Necsa is in dire financial straits – union
– Old Mutual defends issuing Moyo with second letter of termination (Compiled by Olivia Kumwenda-Mtambo)