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JSE Top 40 Gains 0.51% as Saudi Investment Boosts Market Sentiment
JSE Top 40 Gains 0.51% as Saudi Investment Boosts Market Sentiment
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The JSE All Share Index climbed 0.51% to close at ZAR 91,019.10, marking a 466.33-point gain amid renewed optimism. Saudi Arabia’s ACWA Power committed $1.9 billion to South African renewable energy projects, signaling long-term confidence in the economy.
Currency markets remained steady with the rand holding at ZAR 18.81/USD despite fiscal uncertainties. Analysts anticipate range-bound trading between ZAR 18.60 and ZAR 19.00 pending budget clarity.
Technical indicators suggest the JSE Top 40 Index is testing critical resistance at ZAR 84,250. A decisive breakout could trigger further upside momentum.
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