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Johannesburg - The JSE started the week off on a sour note on Monday, dropping nearly 350 points on softer resource stocks and news that China will raise its banks' reserves requirement ratio.
But the local market was quiet as the US market is closed for the Martin Luther King Day holiday in the US today, an equity dealer said.
At the close, the JSE all share index was down 1.06%, with resources shedding 1.08% and platinum miners falling 1.62%. Gold miners ended flat (-0.05%). Financials lost 1.04%, banks slid 1.27% and industrials were down 1.04%.
The rand was trading at R6.88/$ from R6.92 at the JSE's close on Friday. Gold was quoted at $1 361.08/oz from $1 366.58/oz at the JSE's previous close, while platinum was at $1 808.00/oz from $1 811/oz before.
China's announcement has put commodities under pressure, as concerns over Beijing's monetary policy tightening mount, the equity dealer said.
The US economic data, which was not as positive as the market would have liked, also weighed on the local bourse, he said.
But the local market was quiet as the US market is closed for the Martin Luther King Day holiday in the US today, an equity dealer said.
At the close, the JSE all share index was down 1.06%, with resources shedding 1.08% and platinum miners falling 1.62%. Gold miners ended flat (-0.05%). Financials lost 1.04%, banks slid 1.27% and industrials were down 1.04%.
The rand was trading at R6.88/$ from R6.92 at the JSE's close on Friday. Gold was quoted at $1 361.08/oz from $1 366.58/oz at the JSE's previous close, while platinum was at $1 808.00/oz from $1 811/oz before.
China's announcement has put commodities under pressure, as concerns over Beijing's monetary policy tightening mount, the equity dealer said.
The US economic data, which was not as positive as the market would have liked, also weighed on the local bourse, he said.
