JSE faces mixed Asian markets on Monday amid cryptocurrency turbulence
The JSE faces mixed Asian markets on Monday morning after a volatile week, with inflation concerns and cryptocurrency volatility the major themes.
Pressure on cryptocurrencies continued at the weekend and the mood soured last week after China announced it was tightening regulations. This could remain a major issue for investors in the week ahead, with the focus also on economic data.
US personal consumption expenditure data — the US Federal Reserve’s preferred measure of inflation — is due on Friday.
In morning trade the Shanghai composite was up 0.16% and Japan’s Nikkei 0.44%, while the Hang Seng was 0.41% lower.
Tencent, which gives direction to the local bourse through the Naspers group, was down 0.58%.
Gold was 0.13% higher at $1,883.60/oz while platinum rose 0.11% to $1,171.76. Brent crude was 2.68% higher at $66.77 a barrel.
The rand was little changed at R13.95/$.
Barloworld is due to report its results for the six months to end-March later, saying in a recent update it had benefited from austerity measures and acquisitions, while its equipment businesses in Russia and SA are expected to show an improved performance.
Private hospital group Netcare is due to release its results for the six months to end-March later, expecting to report a fall in headline earnings per share as it deals with increased Covid-19 related costs, which have also put pressure on elective surgery numbers.
Source: businesslive.co.za
