MARKET WRAP: JSE and rand weaken as US-China relations turn more sour

The JSE and the rand ended the week softer on Friday as mounting tension between the US and China weighed on risk sentiment, while investors continue to monitor the rising number of Covid-19 cases.

Tension escalated between the two superpowers on Friday after China ordered the US to close its consulate in Chengdu. This was in response to an order by the US on Wednesday for China to close its Houston consulate within 72 hours.