Chinese rebound may be good news for JSE
Zeder expects to report an up to sevenfold jump in HEPS on Tuesday, boosted by a recovery in its portfolio of food producers
A halt in the slide of Chinese stock markets may help the JSE escape a sixth trading day of losses on Tuesday. Although Hong Kong’s Hang Seng index was up 0.42% ahead of the JSE’s opening, Tencent was down 0.4% — a bad omen for its shareholder Naspers, which fell 0.17% to R2,885.05 on Monday. The JSE all share index slipped 0.35% to close at 54,219 points on Monday, taking its drop from the 61,777-point peak it reached on January 26 to 12%. The top 40 index, which is offered as an exchange-traded fund (ETF) by various financial institutions, closed at 48,042, taking its drop from its 55,192-point peak at November 21 to 13%. The total return of the Satrix top 40 ETF for the year to date is negative 2.8%. Of the various JSE sector indices offered as ETFs, Satrix Resi, which tracks the index of the JSE’s 10 largest mining companies, has done best with a total return of 19% for the year to date. Property has been the JSE’s worst performer so far in 2018, with the listed property index t...
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