Last Week In Review
Wall Street nudged higher on Friday as investor sentiment brightened following remarks by President Donald Trump that eased fears of further trade escalation with China, while regional bank stocks recovered from steep losses. The S&P 500 and Nasdaq 100 both gained about 0.20%, and the Dow Jones rose over 150 points. President Trump confirmed his plan to meet Chinese President Xi Jinping later this month, adding that a 100% tariff on Chinese goods would be unsustainable for either economy.
Meanwhile, the South African rand weakened through much of Friday’s session, closing a volatile week dominated by renewed trade jitters as markets turned their focus to an upcoming domestic inflation report. At 15h09 GMT, the rand was trading at R17.38 to the US dollar – about 0.20% softer than Thursday’s close and broadly in line with other emerging markets. On the Johannesburg Stock Exchange, the Top 40 index was down more than 2% at one point, trimming recent gains by the day’s end.
In London, the FTSE 100 tumbled nearly 1%, marking its weakest session since April 2025. Worries over US credit markets triggered a global equity sell-off, with losses at two US regional banks linked to loan fraud sparking fears of broader financial stress. European markets pared earlier losses, with the STOXX 50 and STOXX 600 closing down 0.80% and 0.90% respectively, after tumbling as much as 1.90%.
In Asia, Japan’s Nikkei 225 fell 1.44% to 47 582 and the broader Topix dropped 1.03% to 3 170, ending a two-day winning streak. Japanese shares followed Wall Street losses after trouble at two US banks triggered concerns about credit markets. A stronger yen also weighed on equities by dampening export profits and making Japanese assets costlier for foreign investors.
In China, the Shanghai Composite lost 1.95% closing at 3 840, while the Shenzhen Component plunged 3.04% to 12 688. The Shenzhen index fell nearly 5% over the week as US–China trade tensions intensified. The Chinese government accused the US of stoking panic over rare earth export controls, while US officials warned the measures could endanger global supply chains.
Thanks to PSG Financial Services for the market review.
Financial Indicators by Sharedata.co.za
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