MARKET WRAP: Metals drag JSE lower as China economic data disappoints

Metals dragged the JSE lower on Tuesday, with the local bourse breaking a four-day winning run after softer-than-expected economic data from China and hawkish comments by Federal Reserve officials dampened investors’ mood.

Minneapolis Fed president Neel Kashkari said overnight the US central bank probably has more work ahead to control inflation. He noted the world’s biggest economy has proved to be resilient despite aggressive interest rate hikes, adding that the inflation problem isn’t completely solved and more needs to be done to bring inflation within the Fed’s 2% target…