South African Markets - Factors to watch on Aug 22
Aug 22 (Reuters) - The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Monday.
Data on foreigners' buying and selling of South African bonds and stocks during the previous week
Telkom SA SOC Says Talks With MTN Are Still In Progress
SOUTH AFRICAN MARKETS
The South African rand weakened further on Friday, dragged down by a stronger dollar as Federal Reserve officials continued to talk up the need for further interest rate hikes.
On the Johannesburg Stock Exchange, the All-Share index .JALSH ended down 1.82%, while the Top-40 index .JTOPI closed 1.89% lower.
Asian shares slipped on Monday and the dollar extended its climb amid angst over global growth as most central banks keep raising rates, while a modest easing by China served only to highlight troubles in its property market.
U.S. stocks fell on Friday in a broad selloff led by megacaps as U.S. bond yields rose, with the S&P 500 posting losses for the week after four straight weeks of gains.
Gold prices fell to their lowest in more than three weeks on Monday, weighed down by a stronger dollar and expectations of more rate hikes from the U.S. Federal Reserve to tame surging inflation.
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Some of the main stories out in the South African press:
- Health Squared medical scheme seeks voluntary liquidation
- Ramaphosa contradicts Zondo Commission's finding that cadre deployment is 'unlawful, unconstitutional' (Compiled by Bhargav Acharya)