JOHANNESBURG, Jan 22 (Reuters) – The following scheduled economic indicators, debt and currency market moves may affect South African markets on Wednesday.
SOUTH AFRICAN MARKETS
South Africa’s rand dipped to a new five-week low on Tuesday, with the currency struggling for momentum as a weak domestic economic outlook failed to provide a basis for optimism.
Asian stock markets bounced on Wednesday as China’s response to a virus outbreak tempered fears of a global pandemic, although Shanghai shares slipped amid worries about a hit to domestic demand and tourism.
Wall Street lost ground on Tuesday, backing away from record highs as a viral outbreak from China found its way to U.S. shores and the International Monetary Fund (IMF) lowered its global economic growth forecast.
Gold prices slipped on Wednesday as the dollar firmed and investors played down any immediate impact on the global economy from the outbreak of a new coronavirus in China.
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Some of the main stories out in the South African press:
– Eskom in crisis but can be fixed, says CEO AndrÃ© de Ruyter
– FDI flows to SA remain steady despite policy uncertainty
(Compiled by Alexander Winning)