Stock exchanges trading ahead of the JSE’s opening on Friday morning were in a gloomy mood after Amazon’s share price lost 3% in after-hours trade on the Nasdaq. The online retailer had earlier reported a 77% drop in profit. Sydney’s S&P/ASX 200 index was down 1.55%, Hong Kong’s Hang Seng index was down 0.63% and Tokyo’s Nikkei 225 index was down 0.57%. Judging from these markets, the JSE may trip after four days of gains, which have taken its all share index within 0.85% of overtaking its previous record high set on April 24 2015. Amazon reported its sales for the June quarter grew 25% to $38bn from the matching quarter in 2016, but the costs of its acquisitions and investment in technology saw profit fall 77% to $197m. Friday is another busy day for the JSE following Thursday’s flood of results, which included Anheuser-Busch InBev and British American Tobacco. AB InBev increased its lead as the JSE’s biggest company, with a 7% jump in its market capitalisation to R2.7-trillion, wh...
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