JSE likely to slide for fifth day
The JSE may be in for its fifth trading day of losses, judging by Chinese markets, which were down on Monday morning following the release of second-quarter GDP figures.
China’s second-quarter GDP report was released at 4am South African time and showed the country’s annual economic growth slowed to 6.7% from 6.8% in the first quarter.
This was as expected by the economists’ consensus, but still knocked 0.47% off the Shanghai Composite index while Hong Kong’s Hang Seng index fell 0.17%.
In Hong Kong, Tencent was up 0.31% to HK$382.20, indicating its 31%-owner Naspers may recoup some of Friday’s 2.1% drop to R3,373.
Sydney’s ASX 200 index was down 0.49%, with BHP falling 0.81% to A$33.06, indicating the JSE’s miners may be in for their fourth trading day of losses.
Japanese stock markets were closed on Monday for the country’s "marine day" national holiday.
It is a quiet week on the JSE results front, with no results other than Sabvest’s interims on Friday diarised.
The rand started the week comfortably under R13.30 to the dollar after reaching R13.22 during the weekend.
The rand was trading at R13.26 to the dollar, R15.50 to the euro and R17.56 to the pound at 7am.