Issues set to play a key role on domestic financial markets today, include the softer rand, weaker global markets and lower commodity prices. Emerging market currencies like the rand and Aussie Dollar is on the backfoot this morning. Forex dealers say that this is due to risk appetite which has waned.

On the capital market, the yield on the R157 government bond ended yesterday at 8.23%.

US and European markets  

Technology stocks drove a broad-based US sell-off yesterday as a brokerage took a dim view of demand prospects for the semi-conductor sector. The downgrades were a setback for those betting that the technology sector would fare better than others as the recovery takes hold. The Dow Jones retreated 94 points to 10 332. The Nasdaq Composite tumbled 36 points, or 1.7%, to 2 157. The S & P 500 fell 15 points, or 1.3%, to 1 095.

European markets ended lower yesterday. FTSE 100 shed 74 points, or 1.4%, to 5 268. In Paris the CAC 40 dropped 68 points, or 1.8%, to 3 760. Frankfurt's DAX lost  85 points, or 1.5%, to 5 702.

Mining stocks weighed on the JSE yesterday. The overall index gave up 151 points to 27059. Financials slipped 69 points to 19096, while industrials added 43 points to 25445. The gold board tumbled 55 points, or 2.1% to 2 566. The top 20 resources dropped 645 points, or 1.3%, to 49701.

Asian markets

Markets in the Asia-Pacific region are weaker this morning. In Tokyo the Nikkei fell 95 points, or 1%, to 9 454. And in Hong Kong, the Hang Seng retreated 165 points to 22 478. Sydney's ASX dropped 64 points, or 1.4%, to 4 685.

Platinum is trading at $1438.50/oz and the spot price of Brent crude oil is weaker at 76.71 a barrel.