JSE slips as it tracks wary global markets
The JSE opened lower on Tuesday morning following a rough start in Asian markets, as investors keep an eye on global risk as US-China trade tension continues weigh on sentiment.
Investors also remained cautious as speculation spreads that the US Federal Reserve may cut interest rates in 2019. The US-China trade war remains the dominant catalyst in global markets ahead of the Group of 20 (G20) summit later in June.
The Shanghai Composite was down 0.96%, the Hong Kong Hang Seng 0.49% and Japan’s Nikkei 225 0.92%
At 11am, the all share had fallen 0.39% to 56,064.3 points and the Top 40 has lost 0.44%. Gold miners gained 2.99% after leading gains on Monday.
Resources were up 0.85%, while banks fell 2.09% and general retailers 1.9%.
Gold Fields rose 5.6% to R71.86, AngloGold Ashanti 1.9% to R205.53, Sibanye 1.41% to R14.43 and Harmony 1.26% to R26.51.
Naspers was down 1.49% to R3,300.05, as the Hong Kong-listed Tencent earlier fell 1.92%
Novus gained 9.3% to R4.23 after the company said it expected its headline earnings per share (HEPS) for the year ended March to be 41% lower — at least 42c — compared to the previous period.
Source: businesslive.co.za
