JSE likely to open weaker as global gloom returns to markets
Bourses lose ground again on Monday morning, indicating Friday’s rise was just a short respite in a downward run that began on September 25
Markets were gloomy again on Monday morning, indicating Friday’s rise was just a short respite in a downward run that began on September 25. Naspers, which rebounded 8.5% on Friday from a 6.5% drop on Wednesday, will probably continue tracking its main asset, Tencent, down on Monday. Tencent fell 3.3% to HK$279 ahead of the JSE’s opening, contributing to a 1% drop in Hong Kong’s Hang Seng index. Rising oil prices failed to rally BHP, which fell 1.65% to A$33.28 in Sydney, dragging the ASX 200 index down 0.96%. The Brent crude oil price was up 1.1% to $81.40 a barrel and the West Texas Intermediate (WTI) oil price was up 0.87% to $72.11 a barrel on Monday morning. “Apparent worries about Saudi Arabia in the wake of the ongoing mystery regarding dissident Saudi journalist Jamal Khashoggi’s fate seem to be helping boost prices in early Asian trade,” Dow Jones reported. “Whether or not that’s actually behind the gains, the rebound is a welcome reprieve for bulls, some of whom had recent...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.