Loading…
The rand weakened against major currencies as another Chinese property developer, Modern Land, defaulted on an overseas debt obligation. Metal prices fell on fears of slowing Chinese demand, and the JSE gained on strong US earnings.
The rand traded at about R14.84 per dollar.
Concern over Chinese property defaults points to weaker Chinese demand for commodities and a softer rand. A weaker rand raises the local-currency cost of imported feed ingredients for South African buyers.
businessday.co.zaLindiwe TsoboOct 26, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
