JSE PREVIEW
Asia sets downbeat mood for JSE, with jobs data likely to add to the gloom
Naspers’s Hong Kong-listed associate Tencent took its cue from US tech stocks on Tuesday morning, sliding 2.78% to HK$357.20. This indicates Naspers is in for another bad day after falling 1.28% to R3,315.08 on Monday. The top 40 index managed to make a small gain of 0.2% on Monday despite Naspers, but may not be as lucky on Tuesday. Tokyo’s Nikkei 225 index was down 0.4%, Hong Kong’s Hang Seng index was down 0.55%, and the Shanghai composite index was down 0.03%. Australia’s ASX 200 index, however, was up 0.1%.
SA’s unemployment rate will be in focus on Tuesday, with Statistics SA expected to report at 11.30am that it remained at about the first quarter’s 26.7% in the second quarter. "The industrial sector of the economy contracted in the first quarter, and lacklustre production updates so far in the second quarter do not bode well for a meaningful recovery in industrial employment levels," Investec Bank economist Lara Hodes said. Average salaries will also be in focus, with ...
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