JSE slumped 3.21% for its biggest one-day fall in two years ◾Japan – The Nikkei Index traded lower on Wednesday, extending Tuesday’s losses, as investors were disappointed by the Bank of Japan’s failure to control volatility in the bond market, which began when the central bank initiated its stimulus program in April. ◾Hong Kong – Hong Kong markets are closed for the Dragon Boat Festival holiday on Wednesday. ◾European markets- European markets are expected to open lower on Wednesday, as investors are kept on edge with the sell-off set to continue on concerns that the U.S. Federal Reserve could soon ease back its stimulus measures. ◾U.S. markets – According to the CNN Money website, U.S. markets closed sharply lower in choppy trade on Tuesday, with the Dow Jones Industrial Average, the S&P 500, and the NASDAQ Composite all starting the day deep in negative territory before bouncing to end between 0.8% and 1% lower. ◾S.A market – The Business Day reports that the JSE slumped lower in a broad-based sell-off on Tuesday, with the Rand hedge resource stocks failing to counter losses in shares such as Richemont and Naspers, which lost 3.44% and 2.1% respectively. ◾Rand- The Rand was last trading firmer at R9.9573 against the Dollar, with the Pound at R15.5765, while the Euro was also quoted stronger at R13.2687. ◾Precious Metals – The gold price has edged lower for a second straight day on Wednesday, with a holiday in China depriving the precious metal of strong support, while investors are also concerned about global central banks possible easing back on their easy monetary policies. Gold was last trading lower at $1 378.10, with the platinum price quoted at $1 485.00, while the palladium price was trading at $754.60. ◾Oil Price – The Brent crude oil price was last trading slightly lower at $102.34 a barrel. news.psgonline.co.za/2013/06/jse-slumped-3-21-for-its-biggest-one-day-fall-in-two-years/
Posted on: Wed, 12 Jun 2013 13:04:52 +0000