JSE to contend with mostly weaker Asian markets on Friday
The JSE faces mixed Asian markets on Friday morning, with little clear direction on global markets, as investors consider both rising infection numbers, and the prospect of a vaccine in coming months.
Cases continue to surge in Europe and the US, while locally, parts of the Western Cape are also grappling with a high caseload.
US markets will close early on Friday, having been closed on Thursday in observance of the Thanksgiving holiday.
“After a fortnight where the market has received a trio of vaccine booster shots, my view remains the same, including a much earlier than usual proclivity for investors to reduce risk into the holiday season,” said Axi chief global markets strategist Stephen Innes in a note.
In morning trade the Australian All Ordinaries index was down 0.36% and the Hang Seng 0.16%, while Japan’s Nikkei had gained 0.24%.
Tencent, which gives direction to the JSE via Naspers, had added 0.17%.
Gold was little changed at $1,807.40/oz while platinum had fallen 1.13% to $955.68/oz. Brent crude was 0.13% higher at $47.76 a barrel.
The rand was flat at R15.18/$.
“Emerging-market investors continue to be torn between the promise of a coronavirus vaccine and the current rising infection data,” said Sasfin Wealth fixed-income trader Alvin Chawasema in a note.
“For now, risk appetite remains positive but it appears to have tapered somewhat as restrictions intensify around the globe,” he said.
Source: businesslive.co.za