JSE rebounds after yesterdays slump

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Tuesday, 30th September 2008 at 10:09 pm by Rander

JSE rebounds after yesterdays slump

It was always going to be interesting to see how the JSE did today following on from yesterdays rejected $700bn bailout in the US. The all share index ended 3.24% higher. Resources gained 2.78%, the gold and platinum mining index added 2.16% and 3.52% respectively. Industrials strengthened 3.52%, financials gained 3.75% and banks rallied 6.24%. All looked positive on the JSE today but traders have said that global markets, including the JSE, remained troubled after US lawmakers voted down a proposed $700bn rescue plan for that country’s financial sector.

It is going to be interesting to see what positions investors in South Africa take in reaction to what is happening in the US. Some have decided to opt for long term investment plans whilst some see this as an opportunity to invest short term.

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