Steady Asian markets bode well for the JSE
Asian stocks were generally flat on Tuesday morning, raising the hope that emerging markets have finally halted their slide
Asian stocks were generally flat on Tuesday morning, raising the hope that emerging markets have finally halted their slide. Tokyo’s Nikkei 225 index was up 0.28% while Hong Kong’s Hang Seng index was down 0.19%, with Tencent down 2.4% to HK$276 — a bad omen for Naspers, which fell 5.43% to close at R2,750.18 on Monday. The JSE’s all share index fell 1.9% to 52,467 points on Monday, taking its decline over the past three weeks to 8.2%. Tuesday is fairly busy on the JSE results front, with interims expected from grocery chain Pick n Pay and financial services group PSG. Pick n Pay said on September 20 that it expected to report on Tuesday that its headline earnings per share (HEPS) for the first half of its 2019 financial year would nearly double. Pick n Pay said it expected to report HEPS for the 26 weeks to August 26 would increase between 75% and 85% from the previous year’s interim HEPS, which were restated down to 55.51c from the originally reported 61.88c. The grocery chain sai...
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