The JSE retreated on Wednesday as global
sentiment turned sour on the back of growing unrest in Hong Kong, as well as
the USA's new legislation on Hong Kong.
The US bill could potentially complicate
the ongoing US-China trade talks which could result in a deal not being signed
soon.
This brings on more uncertainty for global
investors who have already been struggling to make long-term decisions on the
back the ongoing tensions.
The Nikkei closed 0.62% weaker while the
Hang Seng and Shanghai Composite Index lost 0.75% and 0.99% respectively.
Stocks in Europe also retreated while in
the USA the major indices opened softer after they reached fresh all-time highs
on Tuesday.
On the JSE, Trustco [JSE:TTO] came under
significant pressure following the release of a trading statement which saw the
share fall 8.99% to close at R8.00.
Brait [JSE:BAT] also struggled on the day
as it lost 7.41% to close at R14.00, while Steinhoff International [JSE:SNH]
extended its decline to close 6.67% weaker at R0.84.
Diversified mining giant, BHP Group
[JSE:BHP] lost 1.98% to close at R322.37, while rand hedge British American
Tobacco [JSE:BTI] dropped 1.87% to close at R546.20.
Losses were also recorded for South32
[JSE:S32] which lost 1.83% to close at R26.35, FirstRand [JSE:FSR] which
dropped 1.53% to close at R67.50, and Telkom [JSE:TKG] which closed at R51.73
after losing 1.71%.
Raubex [JSE:RBX] led gains on the day as it
surged 7.09% to close at R22.65.
Following the announcement to sell its
FirstRand shareholding and other property investments, Remgro [JSE:REM] rallied
in today’s session to close 6.12% higher at R196.00, while RMB Holdings
[JSE:RMH] climbed 4.62% to end the day at R87.00.
The JSE Top-40 index eventually closed
0.17% softer while the JSE All-Share index shed 0.36%.