NSX hits lowest so far in 2020
Jo-Maré Duddy - The Overall Index of the Namibian Stock Exchange (NSX) ended at 892.91 points this afternoon, down 8.97% from Friday and the lowest so far this year.
The index’s peak so far in 2020 was 1 318.20 points.
The Local Index of the NSX shed 0.45%, ending at 586.22 points. This too, is the lowest the index has closed so far this year.
The highest the Local Index has ended to date was 613.87 points.
Hurting the Local Index was Standard Bank Namibia (SBN). The group’s share price tumbled by 70c a share or 8.3% to N$7.75.
South Africa
The JSE All Share Index dropped by 8.32% to its lowest level so far this year as South Africa imposed tough restrictions after declaring a national state of disaster in a bid to curb the spread of the novel coronavirus.
The index ended at 40 500.20 points.
International markets
Wall St also got hammered as fears of the coronavirus-driven recession grows, Reuters reports.
US stock indexes plunged about 7%, as the Federal Reserve's drastic interest rate cut to near zero stoked fears of a recession.
Trading on Wall Street's three main stock indexes was halted for 15 minutes shortly after the open, the third such pause in six days, as the S&P 500 index plunged 8%, triggering an automatic cut-out.
The benchmark index slid as much as 11.4%, shedding about US$2 trillion in market value, before bargain hunting helped the indexes claw back some losses.
"You have a lot of evidence that things are still in the process of getting bad and we don't really know how bad," said Tom Martin, senior portfolio manager at GlobAlt Investments in Atlanta.
Volatility gauges known as fear indexes jumped, with the Euro STOXX 50 in Europe surging almost 28% to an all-time high and the CBOE Market Volatility index soaring more than 30% as equity markets plunged further into bear territory.
MSCI's index of Asia-Pacific shares outside Japan tumbled 5.2% to lows not seen since early 2017, while the Nikkei fell 2.5% as the BoJ's easing steps failed to reassure markets.
In Asia, Shanghai blue chips fell 4.3% overnight even as China's central bank surprised with a fresh round of liquidity injections to the financial system. Hong Kong's Hang Seng index tumbled 4%. – Additional reporting by Nampa/Reuters
The index’s peak so far in 2020 was 1 318.20 points.
The Local Index of the NSX shed 0.45%, ending at 586.22 points. This too, is the lowest the index has closed so far this year.
The highest the Local Index has ended to date was 613.87 points.
Hurting the Local Index was Standard Bank Namibia (SBN). The group’s share price tumbled by 70c a share or 8.3% to N$7.75.
South Africa
The JSE All Share Index dropped by 8.32% to its lowest level so far this year as South Africa imposed tough restrictions after declaring a national state of disaster in a bid to curb the spread of the novel coronavirus.
The index ended at 40 500.20 points.
International markets
Wall St also got hammered as fears of the coronavirus-driven recession grows, Reuters reports.
US stock indexes plunged about 7%, as the Federal Reserve's drastic interest rate cut to near zero stoked fears of a recession.
Trading on Wall Street's three main stock indexes was halted for 15 minutes shortly after the open, the third such pause in six days, as the S&P 500 index plunged 8%, triggering an automatic cut-out.
The benchmark index slid as much as 11.4%, shedding about US$2 trillion in market value, before bargain hunting helped the indexes claw back some losses.
"You have a lot of evidence that things are still in the process of getting bad and we don't really know how bad," said Tom Martin, senior portfolio manager at GlobAlt Investments in Atlanta.
Volatility gauges known as fear indexes jumped, with the Euro STOXX 50 in Europe surging almost 28% to an all-time high and the CBOE Market Volatility index soaring more than 30% as equity markets plunged further into bear territory.
MSCI's index of Asia-Pacific shares outside Japan tumbled 5.2% to lows not seen since early 2017, while the Nikkei fell 2.5% as the BoJ's easing steps failed to reassure markets.
In Asia, Shanghai blue chips fell 4.3% overnight even as China's central bank surprised with a fresh round of liquidity injections to the financial system. Hong Kong's Hang Seng index tumbled 4%. – Additional reporting by Nampa/Reuters
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