JSE regains strength

2008-09-30 00:00

Facing a challenging market day following a black Monday on Wall Street brought about by the rejection of a possible bail-out plan by the U.S. House of Representatives, local investors saw the JSE move 2,3% higher in late afternoon trade yesterday.

Markets went into panic after the House rejected a fragile compromise plan to spend up to $700 billion to revive a financial sector weakened by the U.S. housing meltdown. This led to the JSE suffering a bloodbath on Monday as the JSE all-share index closed 5,76% lower.

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