JSE closes higher despite US-China clash

Image: Siphiwe Sibeko/Reuters via The Conversation

The JSE closed higher on Thursday, with global markets undeterred by the continued tit-for-tat trade-tariff battle between the US and China.

The tension has been the main driver of the markets this week as their brinkmanship game escalated.

Global markets shrugged off anxiety about the conflict, however, with most gaining.

By the 5pm close, the JSE all share was up 0.88% at 56,537.7 points with resources leading the gains, up 1.08%.

The top 40 rose 0.97%. Anglo American climbed 2.31% to R357.76, after it said its subsidiary – diamond producer De Beers – intended to construct another recovery vessel in its Namibia fleet.

BHP Group rose 1.8% to R325.88.

Among the gainers, Naspers was up 1.84% to R3,375.

Kumba Iron Ore leapt 5.65% to R420.57.

Among gold miners, AngloGold Ashanti shed 3.57% to R163.22, Sibanye-Stillwater 3.19% to R11.52, Gold Fields 2.33% to R52.71, and Harmony Gold 2.79% to R22.26.