Coronavirus fear hits share prices right across the JSE
The share price, still much in line with the figure it opened at this year, moved in line with a slide in the JSE All Share Index of 1.21 percent, as local shares tracked weaker Asia markets that fell on concerns about the spread of the coronavirus to other Asian countries, notably South Korea.
Global investment funds had fled into more sheltered US assets, lifting the dollar to three-year highs.
Although the rand was trading flat on Friday, and had fallen in line with other emerging markets last week, the focus for the currency and JSE equities may swing on local factors this week again, following Wednesday’s Budget speech by Finance Minister Tito Mboweni.
China has had more than 76 288 cases of the coronavirus and 2 345 people have died of the disease it causes – known as Covid-19 – most in Hubei province and its capital of Wuhan, where the virus is believed to have emerged in a wildlife market in December.
Source: iol.co.za
