The JSE opened weaker on Tuesday on disappointing Chinese retail sales data ahead of the release of similar US data for the sector later in the morning.Early-morning losses were broad-based, led by banks and gold stocks on a weaker rand, which lost about 20c against the dollar from Monday’s firmer levels.Retail sectors are a major driver of GDP growth in most developed countries. The figures in the US will be particularly closely watched as it might affect the US Federal Reserve’s stance on interest rates for the rest of 2018.Analysts expect US retail sales to have risen a monthly 0.30% in April from 0.60% in March.Locally, the market is bracing for a possible weaker retail number amid earlier hopes that retail sales could boost GDP growth for 2018, following weaker-than-expected manufacturing and mining data released last week.The consensus view is for annual growth of 4.7% in March from 4.9% in February.The Hang Seng dropped on the Chinese data, reflecting the weakest number in mo...
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