JSE subdued as markets await US-China trade talks
The JSE was subdued on Tuesday morning as traders remained cautious ahead of high-level talks between the US and China this week.
The two economic superpowers are set to begin negotiations on Thursday with markets betting on the prospects of a successful meeting between the two countries.
On Monday, the US blacklisted several Chinese companies over the country’s treatment of predominately Muslim ethnic minorities.
“Presently, the market activity tells that investors don’t seem to be too worried about the latest news. If Chinese officials head to Washington, there is hope. The inability to reach a trade deal will again dishearten global investors, but it won’t be a shocker for the market,” senior market analyst at London Capital Group Ipek Ozkardeskaya said.
Earlier, the Shanghai Composite added 0.29% and Hong Kong’s Hang Seng 0.38% and Japan’s Nikkei 225 0.99%.
In Europe, the FTSE 100 was flat while France’s CAC 40 lost 0.38% to Germany’s DAX 0.35%.
At 11am, the JSE all share and the top 40 were little changed with the former at 54,719.4 points. Banks were down 0.21% and resources 0.24%.
Insimbi said on Tuesday that its headline earnings per share increased 11% to 9.42c in the six months to end-August. Its share price was unchanged R1.07.
Source: businesslive.co.za
