Magic Markets #281: Market Scorecard - Q2 Global Review, YTD JSE Winners & Losers
About this episode
The episode reviews the second quarter of 2026, highlighting global market trends and key performers in the JSE.
The second quarter of 2026 is in the books, and it was anything but boring. In this episode of Magic Markets, The Finance Ghost and Mohamed Nalla take stock of a remarkable quarter for global markets, from the AI-fuelled surge in semiconductor stocks to the surprising outperformance of South Korea and the continued struggles in China. Moe unpacks the key macro themes that shaped markets, including the sharp moves in oil and gold, shifting expectations around interest rates, and the growing concentration risk in major equity indices. Closer to home, Ghost turns the discussion to the JSE, where investors have seen everything from resource-sector pain to impressive turnaround stories. This includes some of the year's biggest winners and losers on the local market, like Prosus, Sibanye-Stillwater, Sasol, Grindrod and PPC, while highlighting why stock picking remains as important as ever in a volatile investment environment. Key topics covered: Global market review: Why AI hardware stocks dominated Q2 and how South Korea outperformed even the US. China, commodities and macro shifts: The impact of weaker Chinese markets, falling gold prices and volatile oil markets. JSE winners and…
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