JSE opens weaker as US bonds hit multi-year highs
All share follows softer global markets, with Naspers retreating further, as investors await US nonfarm payroll data
The JSE opened softer on Friday with all the major sectors weaker as the effects of higher US bond yields kept US markets on the back foot. Asian markets were also weaker after US Vice-President Mike Pence accused China of interfering in the US midterm elections in another salvo from the administration of President Donald Trump against the world’s second-largest economy. The Dow closed 0.75% lower on Thursday. The Nikkei 225 was 0.8% lower and the Hang Seng lost 0.22%. Naspers was 1.13% lower at R2,890.94, falling for the fourth successive session and extending losses for the year so far to 16.5%. Traders are eyeing US nonfarm payroll data due out later in the day, with a consensus that 185,000 jobs were created in the US in September from 201,000 in the previous month. The market is also likely to pay attention to average hourly earnings growth, which is expected to come in at 2.8% from 2.9% in the previous month. Unemployment could be lower at 3.8% from 3.9%. The full employment n...
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