Johannesburg - The JSE closed sharply down on Monday as investors digested the potential impact of the Japanese earthquake, tsunami and subsequent aftershocks.
Platinum stocks were worse hit because car manufacturers in Japan have stopped production, reducing the demand for the white metal, Kevin Algeo, portfolio manager at Imara SP Reid, said.
At the close, the JSE all-share index fell 0.95%, with resource stocks dropping 1.16%, platinum miners declining 1.56% and gold counters falling 0.41%. Financials lost 0.35% and industrials gave up 1.01%, but banks were up 0.18%.
The rand was bid at 6.84 to the dollar from 6.90 at the JSE's close on Friday. Gold was quoted at US$1 423.22 a troy ounce from US$1 411.48/oz at the JSE's previous close, while platinum was at $1 754.50/oz from $1 774.00/oz before.
Algeo said there was increased volatility as investors digested the Japanese disaster. He also said uranium producers dropped on concerns over nuclear uncertainty.
Dow Jones Newswires reported that US stocks fell on Monday as worries escalated about the financial impact of Japan's devastating earthquake and tsunami.
The Dow Jones Industrial Average shed 73 points, or 0.6%, to 11 971.
The Bank of Japan jumped into action on Monday to temper the economic blow from the earthquake, tsunami and nuclear emergency that hit northern Japan, doubling the size of its asset-purchase programme and pouring a record 15 trillion yen (US$183.17bn) into money markets to ease liquidity concerns.
On Friday, US stocks climbed despite the earthquake, as investors were relieved that large protests in Saudi Arabia failed to materialise and as industrial companies gained on expectations they could benefit from rebuilding efforts in Japan.
Meanwhile, tensions in the Middle East and north Africa continued to simmer. Forces loyal to leader Muammar Gaddafi pressed their offensive further into eastern Libya on Monday, lending urgency to an Arab League request to the United Nations Security Council to enforce a no-fly zone over Libyan airspace that is likely to be taken up this week. The move comes after more than 1 000 Saudi soldiers entered Bahrain on Sunday to help protect key facilities in the wake of recent anti-government protests.
Platinum stocks were worse hit because car manufacturers in Japan have stopped production, reducing the demand for the white metal, Kevin Algeo, portfolio manager at Imara SP Reid, said.
At the close, the JSE all-share index fell 0.95%, with resource stocks dropping 1.16%, platinum miners declining 1.56% and gold counters falling 0.41%. Financials lost 0.35% and industrials gave up 1.01%, but banks were up 0.18%.
The rand was bid at 6.84 to the dollar from 6.90 at the JSE's close on Friday. Gold was quoted at US$1 423.22 a troy ounce from US$1 411.48/oz at the JSE's previous close, while platinum was at $1 754.50/oz from $1 774.00/oz before.
Algeo said there was increased volatility as investors digested the Japanese disaster. He also said uranium producers dropped on concerns over nuclear uncertainty.
Dow Jones Newswires reported that US stocks fell on Monday as worries escalated about the financial impact of Japan's devastating earthquake and tsunami.
The Dow Jones Industrial Average shed 73 points, or 0.6%, to 11 971.
The Bank of Japan jumped into action on Monday to temper the economic blow from the earthquake, tsunami and nuclear emergency that hit northern Japan, doubling the size of its asset-purchase programme and pouring a record 15 trillion yen (US$183.17bn) into money markets to ease liquidity concerns.
On Friday, US stocks climbed despite the earthquake, as investors were relieved that large protests in Saudi Arabia failed to materialise and as industrial companies gained on expectations they could benefit from rebuilding efforts in Japan.
Meanwhile, tensions in the Middle East and north Africa continued to simmer. Forces loyal to leader Muammar Gaddafi pressed their offensive further into eastern Libya on Monday, lending urgency to an Arab League request to the United Nations Security Council to enforce a no-fly zone over Libyan airspace that is likely to be taken up this week. The move comes after more than 1 000 Saudi soldiers entered Bahrain on Sunday to help protect key facilities in the wake of recent anti-government protests.