The JSE took its cue from China on the first trading day of 2018, with the top 40 index up 0.5% and the all share index up 0.35% at 9.30am.Hong Kong’s Hang Seng index rallied 1.9% and mainland China’s Shanghai and Shenzhen composite indices both gained about 1.3% after the country’s Caixin manufacturing purchasing managers’ index (PMI) beat forecasts.The Chinese survey of factory managers rose to 51.5 points in December from 50.8 in November, beating the consensus expectation of a dip to 50.6 from a poll done by Trading Economics.A health check of South African factories is scheduled at 11am when the Absa-sponsored PMI for December done by Stellenbosch University’s Bureau of Economic Research is scheduled for release.November’s PMI was 48.6 points, under 50 which indicates SA’s manufacturing sector is shrinking.The JSE’s top gainer on Tuesday morning was Steinhoff International which was up 12% to R5.20 at 9.40am.Steinhoff issued a statement saying it would issue its delayed results...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.