JSE set for a positive session, taking its cue from Asia despite slow jabs drive

The JSE could have a positive session on Monday, taking its lead from Asia, though rising Covid-19 cases kept a lid on risk appetite.

India, one of Asia’s most populous countries, continues to register a record number of new daily infections.

In SA, which accounts for Africa’s largest recorded Covid-19 caseload, the rollout of the vaccination programme has been slow, attracting criticism.

“Like many leaders, I am concerned about the speed of [the] vaccine rollout in this country,” Pick n Pay chair Gareth Ackerman said last week.

“The longer it takes, the longer South Africans remain unprotected from this terrible virus, and the greater the risk of a third wave, and the possibility of new virus variants emerging,” Ackerman said.

Analysts have said markets will be torn between the rising Covid-19 cases and vaccine hopes.

Japan’s Nikkei 225 was up 0.41%, but Hong Kong’s Hang Seng was flat. 

The JSE had a positive session on Friday, with the listed property sector the standout performer.

Commodity markets were moderately higher, with gold gaining 0.27% to $1,782 per ounce and platinum picking up 0.30% to $1,233 per ounce.

The rand, which is the barometer of investor sentiment, was relatively steady against the dollar, but still firmer on a month-to-date basis.

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Source: businesslive.co.za