South African Markets-Factors to watch on October 15

By Reuters News

JOHANNESBURG, Oct 15 (Reuters) - The following scheduled economic events, equity and currency market moves may affect South African markets on Thursday.



SOUTH AFRICAN MARKETS

The South African rand weakened sharply on Wednesday after a hotter-than-expected US inflation reading boosted expectations that the Federal Reserve could raise interest rates later this month..JZAR/


GLOBAL MARKETS

Stocks sold off in Asia on Thursday with the tech supply chain bearing the brunt of the damage, as a quicker-than-expected increase in US consumer price inflation upped expectations for the Federal Reserve to act later this year. MKTS/GLOB


GOLD

Gold prices climbed 1%, rebounding from a one-week low hit in the previous session as the US dollar eased, while investors assessed the likelihood of a Federal Reserve interest rate increase this month after a hot inflation report.GOL/


WALL STREET

Hotter-than-expected inflation data sent the Nasdaq to a sharply lower close on Wednesday, with worries about more interest rate hikes from the Federal Reserve pummeling shares of Oracle, CoreWeave and other AI stocks sensitive to higher borrowing costs. .N


Some of the main stories out in the South African press:


BUSINESS DAY

- BAT warns South Africa is losing battle against criminal syndicates

- Drugmakers urge crackdown on illegal obesity medicines in South Africa


NEWS24

- SANDF pulls plug on Cuba project after 279 million rand irregular expenditure

- Sacco family's Assore alleges power grab by Motsepe's ARM

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