After a weak opening, the JSE pared some of its losses in late afternoon trade on Monday, as Naspers turned around and miners gained on a weaker dollar and higher Brent crude price. Trade was characterised by wild swings during the day, while volumes were below average, reaching R15bn by the close. Japanese markets were closed for a holiday. Emerging-market currencies and the euro gained after US President Donald Trump appeared to have backed down on an immediate implementation of higher tariffs against China, instead saying the "tariffs had put the US in a very strong bargaining position" in negotiations between the two countries. Concern about trade relations between the US and China still weighed on global stocks following Trump’s earlier threats to slap another round of tariffs on $200bn of Chinese imports to the US. Chinese officials said if Trump carried out his plans this week, further talks could be scuttled. After trading nearly 3% lower in the morning, Naspers ended the da...
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