JOHANNESBURG, Aug 7 (Reuters) – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday.

ECONOMIC EVENTS

South Africa’s net foreign reserves rose to $59.165 billion at the end of July from $58.437 billion in June, central bank data showed on Wednesday.

COMPANIES

The Johannesburg Stock Exchange will publish its half-year results.

SOUTH AFRICAN MARKETS

The South African rand held steady on Tuesday as global risk sentiment improved after tanking on Monday amid fears of a possible recession in the United States.

On the Johannesburg Stock Exchange, the blue-chip Top-40 index last traded about down 0.6%. South Africa’s benchmark 2030 government bond was slightly weaker, with the yield up 1.5 basis point to 9.375%.

GLOBAL MARKETS

Asian share markets extended their rally on Wednesday, led by another bounce in the Nikkei, as the Bank of Japan unexpectedly turned cautious on rate hikes amidst market volatility, which led to a sharp fall in the yen.

WALL STREET

The S&P 500 and Nasdaq ended 1% higher on Tuesday as investors jumped back into the market a day after a dramatic sell-off, with recent comments by Federal Reserve officials easing U.S. recession worries.

GOLD

Gold prices edged lower on Wednesday as the U.S. dollar and Treasury yields strengthened, while traders awaited further cues to gauge the size of the Federal Reserve’s likely September interest rate cut.

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

BUSINESS DAY

– SA less attractive to investors than Africa’s islands

FIN 24

– What this week’s turmoil may mean for SA interest rates

(Compiled by Tannur Anders; editing by David Evans)