JSE could find support from firmer Asian markets on Tuesday

The JSE may take its lead on Tuesday morning from firmer Asian markets, which also closed higher on Friday.

The local bourse was closed for public holidays on Monday and Friday, and is yet to react to the extension of SA’s lockdown until the end of April.

Asian markets have been mostly higher, however, boosted by positive developments in the oil price war between Russia and Saudi Arabia, as well as new support measures announced by the US Federal Reserve.

On Tuesday, data showed that Chinese exports fell less than expected in March, and the rand was below R18/$ in morning trade.

The Shanghai Composite was up 0.68% and the Hang Seng 0.65%.

Gold was up 0.17% to $1,715.64/oz while platinum was up 1.05% to $705.55. Brent crude was up 1.07% to $32.18 a barrel.

The rand was 0.59% firmer at R17.99/$,

There is little on the economic calendar on Tuesday, though Capitec is due to release its results for the year to end-February later. The Reserve Bank has recently asked banks to hold on to dividends and cut bonuses for senior executives to shore up their balance sheets in the wake of the coronavirus outbreak.

Capitec has said it expects profits to rise by about a fifth during its financial year.

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