JSE could get a boost as global stocks rebound on US tariff delay
The JSE could open higher on Wednesday after US President Donald Trump’s decision to delay the 10% tariff on some Chinese imports lifted global stocks.
On Tuesday, Trump pushed back the September 1 deadline to impose a 10% tariff on Chinese imports, which include cellphones, laptops, toys and other goods citing the impact the tariff will have on US holiday sales. Trump said the tariff, which was announced in July, will be effective on December 15.
Earlier, the Shanghai Composite had gained 0.78% and Hong Kong’s Hang Seng 0.54% despite the escalation of violent pro-democracy protests on Tuesday, and Japan’s Nikkei 225 had gained 0.91%.
Naspers’ Hong Kong-listed subsidiary, Chinese internet and gaming giant Tencent, earlier gained 2.22%.
The rand was flat at R15.12/$ while it had strengthened to R16.89/€ and was unchanged at R18.23/£ on Tuesday morning.
Statistics SA will publish retail sales for June later in the day. The consensus is a 2.3% rise year on year from 2.2% in May, according to Trading Economics.
Source: businesslive.co.za
