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South African Markets - Factors to watch on October 28

By Reuters News

JOHANNESBURG, Oct 28 (Reuters) - The following scheduled economic events, equity and currency market moves may affect South African markets on Wednesday.



SOUTH AFRICAN MARKETS

The South African rand edged higher on Tuesday, supported by firmer commodity prices, while investors looked ahead to the Federal Reserve's policy meeting for clues on the future direction of US interest rates..JZAR/


GLOBAL MARKETS

Asia stocks rallied on Wednesday after a resurgence in AI enthusiasm ahead of earnings from industry bellwethers later in the US day, while the dollar was perky ahead of a Federal Reserve policy decision. MKTS/GLOB


WALL STREET

An AI-fueled tech rally sent US stocks to a higher close on Tuesday as third-quarter reporting season gained steam, while the Federal Reserve convened for its penultimate meeting of the year..N


GOLD

Gold prices ticked lower on Wednesday after the previous session's climb of about 1%, as higher oil prices stoked inflation fears while investors awaited the Federal Reserve's policy decision later in the day for clues to the rate outlook. GOL/


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


BUSINESS DAY

- Hyprop flags municipal service failures as costs rise at shopping centres

- ARM backs 16 billion rand mining expansion and nickel mine restart


NEWS24

- Growth rate ‘falls short of development targets’

- Schools risk starting 2027 without new Foundation Phase textbooks

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