Get ready for a rough day on the JSE as global rout enters second day
A slew of local corporate and economic news is due
The JSE is likely to get trampled in a global stock market rout for a second day on Thursday. A worldwide share price plunge was sparked on Wednesday by what could be the start of a US tech stock bubble burst. Netflix fell 8.4% to $325.89, Amazon 6.15% to $1,755.25, Microsoft 5.4% to $106.16, and Apple 4.6% to $216.36. On Thursday morning, Tokyo’s Nikkei 225 index and mainland China’s Shanghai composite index took their cue from the Nasdaq index, which closed 4.1% lower on Wednesday. The Nikkei 225 was down 4.2% in Tokyo, the Shanghai composite down 4.3%, and Hong Kong’s Hang Seng index down 3.8%, with Tencent falling 7.3% to HK$265.40. Naspers, which tends to track its major asset Tencent, closed 6.5% lower at R2,656.98 on Wednesday. The drop in global stocks on Wednesday translated into CoreShares’ S&P 500-tracking exchange-traded fund (ETF) falling 2.5% to R42.50, while Sygnia’s MSCI world index tracker fell 2% to R31.14, and Sygnia’s Euro Stoxx 50 tracker fell 1.8% to R55.53. Th...
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