S Africa's rand rises

South Africa's rand clawed back some lost ground on Wednesday with renewed optimism that China and the United States would strike a trade deal outweighing a surprise third-quarter contraction in the local economy.

US President Donald Trump said on Wednesday trade talks with China were going "very well", striking a more positive tone than on Tuesday when he said a deal might have to wait until after the 2020 US presidential election.

At 1520 GMT, the rand was 0.34% firmer at 14.5870 per dollar. It had slipped to a session low of 14.6980 on Tuesday as the 0.6% contraction to gross domestic product (GDP) snapped the currency's four-session winning streak.

Bonds were firmer on Wednesday, with the yield on the benchmark 2026 debt down 5.5 basis points at 8.43%.

The benchmark JSE Top-40 Index was up 1.06% to 48,809.33 points, while the broader All-Share Index rose 0.82% to 54,933.21 points.