MARKET WRAP: JSE bounces after sell-off but rand languishes at four-year low

The JSE closed firmer on Monday, taking its lead from positive Asian markets, as investors place their hopes on stimulus measures that global central banks have promised to soften the economic effect of the coronavirus outbreak.

The increased spread of the virus and its effect on the global economy sent financial markets into a tailspin last week, raising expectations of co-ordinated monetary policy action by central banks to mitigate the fallout. Trillions of dollars were wiped off equity markets, with world shares posting their biggest weekly decline since the depths of the 2008 financial crisis, reported Reuters.