The JSE is set for a positive opening on Tuesday morning amid early signs of stability in some of the global tech stocks, which have been the epicentre of the recent sell-off.
The local share market has been on a tear since the start of the year — with the all share gaining 15% — on optimism of a rebound in the global economy, shaken by the fallout of the Covid-19.
With the global economy picking up steam, there have also been concerns of inflation picking in the developed markets, in particular, which could result in higher interest rates, thus detracting from the relative value of stocks.
The rand held broadly steady against the dollar in early trade at 15.50/$, though it remained at a 12-week low before the release of the fourth-quarter SA GDP figures, which will show how badly the coronavirus battered the economy in 2020.
The Bloomberg consensus expectation is that real GDP growth slowed by about 7.2% for the year.
Among the main stock indices in Asia, Hong Kong’s Hang Seng was up 1.47% to 28,962.99, Japan’s Nikkei 225 index 0.80% to 29.003.95.
Royal Bofokeng Platinum and property company Attacq are some of the companies scheduled to release their results.