JSE holds on to gains

The JSE on Monday tried to take a leaf from the earlier trend in Asian equities where the Hang Seng surged 1,11percent while the Shanghai Composite Index gained 0,98percent.

The Nikkei was closed for a holiday, but stocks in Europe struggled, while US stocks advanced ahead of the signing of a partial trade deal with China.

No economic data was  released locally, and the JSE looked for direction from other global markets.

The US dollar advanced against a basket of major currencies which also saw the rand lose ground against it in the afternoon session.

The local currency quickly fell to a session low of R14,45/$ towards the JSE close, before it was recorded trading 0,58percent weaker at R14,44/$ at 1700 CAT.

On the JSE, gains were led mostly by resources which saw DRD gold rally 5,55 percent to close at R8,75, while African Rainbow Minerals surged 4,49 percent to close at R173,50.

Diversified miner, South32 gained 2,81 percent to close at R27,76, while commodity trading giant Glencore added 1,39 percent to close at R45,17. — Reuters.

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