JSE faces mostly weaker Asian markets amid persistent threat of Covid-19

The JSE will have to contend with primarily weaker Asian markets on Thursday, as high rates of Covid-19 cases continue in Europe and the US.

A number of states in the US have introduced lockdown measures this week, overshadowing positive news regarding a vaccine, said National Australia Bank analyst Rodrigo Catril in a note.

Locally, all eyes are on the Reserve Bank, which will make its latest monetary policy announcement at 2pm, with most economists expecting no change in the repo rate.

In morning trade Japan’s Nikkei was down 0.93% and the Hang Seng 0.57%.

Gold was 0.25% weaker at $1,867.75/oz while platinum lost 0.21% to $940.99. Brent crude was flat at $44.10 a barrel.

The rand was 0.3% weaker at R15.50/$.

Tencent, which influences the direction of the JSE given Nasper’s shareholding, was 1.1% lower.

Private hospital operator Life Healthcare is due to release its results to end-September later, and are expected to show the effects of hefty writedowns to its Polish operation, Scanmed, which the group is selling.

Casino operator Tsogo Sun Gaming is scheduled to release its results for the six months to end-September, having warned it has swung into a loss after Covid-19 temporarily shuttered operations and resulted in a ban in alcohol sales.

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Source: businesslive.co.za