The following equity and currency market moves may affect South African markets on Thursday.
SOUTH AFRICAN MARKETS
The South African rand and stocks continued their recovery on Wednesday from last week’s plunge, as risk appetite returned somewhat to markets, with investors betting that the Omicron COVID-19 variant would not derail the economic recovery.
Asian shares edged higher in choppy trading on Thursday, helped by advances in Chinese real estate shares, though fears about the Omicron variant of the new coronavirus capped gains regionally.
Wall Street’s major averages fell more than 1% on Wednesday after a morning rally faded as investor angst about the latest coronavirus variant soared with the first U.S. case confirmation while the market also digested Fed comments on inflation.
prices eased on Thursday hurt by a firmer dollar, as investors assessed how central banks are likely to respond to surging inflation and concerns over economic growth spurred by the new Omicron coronavirus variant.
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(Compiled by Olivia Kumwenda-Mtambo)