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JSE closes weaker following hawkish US comments

Xinhua,March 01, 2018 Adjust font size:

JOHANNESBURG, Feb. 28 (Xinhua) -- South African equity markets closed weaker on Wednesday reflecting the global jitters amid U.S. Federal Reserve chairman Jerome Powell's speech to Congress on Tuesday, which the markets perceived as more hawkish than expected.

South Africa's rand weakened to R11.81 to the U.S. dollar on Wednesday after the parliament voted for a motion to change the Constitution to allow the expropriation land without compensation.

The resources index, which includes the likes of Anglo American and BHP, dropped 1.84 percent, leaving the all-share index down 1.19 percent at 58,325.09 points at close, while to 40 index dropped 1.25 percent. Enditem

 

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