JSE falls below 28 000

[.geek]

Is the fall being driven by global economy woes, CPIX or Zuma?

Source: Moneyweb

 

[feo]

28K

 

[Syndyre]

Seems too much of a coincidence for it not to be at least partially Zuma-related.

 

[fivelza]

Seems too much of a coincidence for it not to be at least partially Zuma-related.

Could be, but the inflation numbers are really worrying.....Uncle Tito is going to bash us again with another rate hike

 

[GavinMannion]

From the article

Traders said the bourse had shrugged off a change in leadership of the ruling ANC. Populist politician Jacob Zuma was elected to replace President Thabo Mbeki as head of the African National Congress late on Tuesday.

Maybe read passed the headline next time?

 

[bodhi]

http://www.iol.co.za/index.php?set_id=1&click_id=13&art_id=vn20071219101931947C893741

 

[Syndyre]

From the article


Maybe read passed the headline next time?

I read that but I still wouldn't be surprised if Zuma's election played a role.

 

[kaspaas]

Only a fool in the market would not have discounted at least a major Zuma hand in the pie for the future. As such his election should have been discounted a long time ago.

But the inefficiencies at the ANC congress as well as the bungling security guards roughing up some journo's would worry the markets.

The fact that Zuma was already elected last night and by noon no internet paper reported on a press conference by him yet should also be disturbing to the financial community.

The markets can handle bad news, they can handle good news, but the risk of uncertainties and visible bungling by authorities spooks them.

The sub-prime crisis in the USA is also spooking the market with the main question why did the authorities (Fed) not realise the risk and act earlier - years ago. The Fed's long term bungling that became visible during the sub-prime crisis is spooking the markets just as much as the unexpected-expected losses being announced almost daily.

 

[Velenoso]

I predicted that it would drop below 30 000 by the end of the year... Missed my calling!

 

[curiouswanderer]

Could be, but the inflation numbers are really worrying.....Uncle Tito is going to bash us again with another rate hike

yeah...the market was slightly down until CPIX was released..after that it was carnage

 

[noxibox]

Could be, but the inflation numbers are really worrying.....Uncle Tito is going to bash us again with another rate hike

And no doubt it will continue making no difference.

 

[milomak]

more likely the fact world markets continue to fall

 

[milomak]

And no doubt it will continue making no difference.

the retail sales numbers probably paint a picture that the rate hikes are having an effect