JOHANNESBURG, July 18 (Reuters) – The following scheduled economic and political events, company announcements, equity and currency market moves may affect South African markets on Thursday.

ECONOMIC AND POLITICAL EVENTS

President Cyril Ramaphosa’s opening of parliament address, laying out priorities for new administration from 1700 GMT

South African central bank interest rate announcement from 1300 GMT

COMPANIES

Investment holding company Brait will release the offer price of its 1.5 billion rand ($82.63 million) rights issue.

Anglo American Platinum expects its half-year profit to decline by as much as 25%, mainly due to lower prices of palladium and rhodium, it said on Thursday.

SOUTH AFRICAN MARKETS

The South African rand dropped sharply on Wednesday, as investors dumped riskier assets globally because of worries over the state of the world economy and geopolitical risks after U.S. presidential candidate Donald Trump’s remarks on Taiwan.

GLOBAL MARKETS

Asian equities slid on Thursday, led by chip stocks as investors fret over the prospect of escalating trade tensions between the U.S. and China, while the yen was firm after scaling a six-week high following suspected interventions by Tokyo.

WALL STREET

The S&P 500 and the Nasdaq tumbled on Wednesday as plunging microchip shares, in the face of potential escalation of U.S. trade conflicts with China, exacerbated the ongoing rotation out of megacap tech-related stocks.

GOLD

Gold prices rose on Thursday, hovering near a record high scaled in the previous session, as rising anticipation of a U.S. interest rate cut in September lifted demand for non-yielding bullion.

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

BUSINESS DAY

– Trade and industry department wants to use pensions to fund industrialisation

– Gwede Mantashe wants private investors for Sapref refinery rebuild

– Enoch Godongwana says Treasury is set on reducing debt

FIN 24

– Godongwana pledges to fast-track private investment in water and transport

($1 = 18.1541 rand)

(Compiled by Alexander Winning)