JSE could benefit from continued positive sentiment
Major Asian markets are mostly positive, with Omicron yet to induce further sell-offs as studies continue to show it is less deadly than Delta
The JSE looks set to open to continued positive sentiment on Thursday, though activity could be subdued ahead of Christmas.
Globally, countries are grappling with a surge in Covid-19 as the Omicron variant continues to spread, but the fourth wave appears to be peaking in Gauteng, while the National Institute of Communicable Diseases said on Wednesday that a study found it to be less severe than the Delta variant.
US GDP data for the third quarter was also bumped up to 2.3% from the preliminary figure of 2.1% on Wednesday.
“A cocktail containing better US third-quarter GDP data, along with positive Omicron headlines further inoculated financial markets against a year-end sell-off overnight,” said Oanda senior market analyst Jeffrey Halley in a note.
In morning trade the Shanghai was flat, while Japan’s Nikkei had added 0.57% and the Hang Seng 0.14%.
Tencent, which influences the JSE via the Naspers stable, was up 4.15%.
Gold was up 0.21% to $1,807.12/oz while platinum gained 0.18% to $972.50. Brent crude was 0.11% weaker at $75.52 a barrel.
The rand was flat at R15.71/$, having gained 0.88% on Wednesday.
The local corporate and economic calendar is bare on Thursday.