JSE to celebrate US's record Boxing Day rally
The rand was relatively calm on Thursday morning after a wild Christmas, while Asian markets took their cue from Wall Street which surged on December 26
Image: REUTERS/Philimon Bulawayo
The JSE is likely to join a global rebound when it re-opens on Thursday morning after a two day Christmas break.
Tokyo's Topix was up 5.22% at 6.40am South African time, recovering from its 4.88% slump on Christmas Day.
Asian stocks took their cue from the US where markets were open on December 26 in contrast to SA and Europe.
Nasdaq rebounded on Boxing Day with a 5.84% leap from Christmas Eve's 2.2% drop.
The rally in US tech stocks, helped Tencent rise 0.84% to HK$313.20, indicating a good day for its 31%-owner Naspers.
Naspers closed 2.65% higher when the JSE closed at noon on December 24 for the Christmas break, adding to Monday's 2.77% gain and taking it just shy of rising back over R3,000 per share again.
In Sydney, BHP was up 1.88% to A$34.13, indicating the top 40 index's second largest constituent will rise along with its largest constituent, Naspers, on Thursday.
The rand was relatively calm following a wild Christmas during which it plunged from R14.62/$ to R14.48/$.
The rand was trading at R14.52/$, R16.53/€ and R18.40/£ at 6.43am.