JSE on track for first day of losses in a week as virus fears persist
The JSE was on track for its first day of losses in a week on Tuesday morning, tracking global markets as concern about the coronavirus outbreak weighed on investor sentiment.
China’s National Health Commission said the death toll had risen to more than 1,800 while the number of people infected was more than 72,000 on Tuesday.
“The negative sentiment might be capped by news China will grant more US tariff exemptions. There had been some suggestion that China should hold back from its US agricultural purchases agreed under the trade deal because of the coronavirus. Following through on the tariff exemptions will downplay worries that China won’t stick to its phase one commitments,” London Capital Group head of research Jasper Lawler said.
Earlier, the Shanghai Composite index was flat while Hong Kong’s Hang Seng was down 1.54% and Japan’s Nikkei 225 1.40%.
At 10.49am, the JSE all share had lost 1.07% to 57,566.21 points and the top 40 1.07%. Banks were down 0.81% and industrials 1.17%.
Kumba Iron Ore said on Tuesday that headline earnings per share (HEPS) had increased by 70% to 50.88c in the year to end-December 2019. Its share price was down 6.11% to R345.75.
Source: businesslive.co.za
