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When elephants fight, it is the grass that suffers

The US-China ordeal tanked the industrials index, but financials, gold tickers were optimistic.

The US-China trade war again interfered with global markets, with Huawei bearing the brunt of the US force, being banned by the Trump administration. Google has now withdrawn its Android services from the cellphone manufacturer, which has been accused by the US of espionage. The tensions have filtered through to the local market, with the JSE’s Alsi down as Naspers, a shareholder in Chinese internet service provider Tencent, also felt the blow. Nompu Siziba speaks with Gary Booysen, a portfolio manager at RandSwiss about these and other factors that influenced the global market movements on Monday.

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